SLR assists INEOS in acquisition of major North Sea assets

INEOS acquires N. Sea asset SLR consultingINEOS, the petro-chemicals giant which owns the Grangemouth refinery, recently acquired major North Sea oil and gas assets with the due diligence assistance of SLR Consulting.

Multi-disciplinary experts from SLR’s Oil & Gas team provided technical, due diligence and commercial advice to INEOS resulting in the completion of two major deals; natural gas assets in the North Sea from a UK subsidiary of DEA Deutsche Erdoel AG and interests from Fairfield Energy Holdings Limited.

Combined, this portfolio accounts for approximately eight per cent of all UK gas production. 

SLR’s involvement included subsurface, drilling and economic support, working with senior management and advisors on facilities and operations, strategy and case development, reviewing upstream commercial agreements, as well as providing data for economic analysis, advising on disclosure issues and assisting with final deal completions.

Chief Geoscientist David Lawton, a member of the SLR Oil & Gas advisory team, said: “Our multidisciplinary advice and expertise has helped INEOS in honing and developing its strategy, targeting assets as well as undertaking detailed due diligence to achieve its primary objective of acquiring a significant operating and producing position in the North Sea.”

Rob Nevin, Chairman, INEOS Upstream, added: “SLR has been very responsive to developing our project objectives. It has demonstrated a solid technical capability across the subsurface disciplines, along with an ability to clearly communicate the key findings and we have been very pleased with the support it has provided.”

SLR employs over 350 staff working out of 24 offices across England, Scotland, Wales and Northern Ireland.

INEOS is a global manufacturer of petrochemicals, speciality chemicals and oil products. It comprises 15 businesses each with a major chemical company heritage. Its network spans 65 sites in 16 countries throughout the world.

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