Ineos

INEOS Energy and Shell have partnered to invest in Gulf of Mexico exploration, while Eni reported strong productivity from its Geliga 1 discovery in Indonesia. Santos is advancing its Agogo project in Papua New Guinea, and ConocoPhillips received approval to redevelop several previously producing oil fields in Norway’s Greater Ekofisk Area.

The vessel is expected to be delivered by the end of the year, while the project's new port in Esjberg is on target for completion this autumn.

The acquisition expands INEOS’s US upstream footprint and gives it a minority stake in a pair of deepwater Gulf of Mexico producing fields.

Ineos, the day-to-day operator of Greensand Future, with its partners Harbour Energy and Nordsøfonden, has made a final investment decision into the first commercial phase, with storage operations set to begin by early 2026.

Permits for the East Side Cluster carbon storage project have been awarded, and participants have begun announcing final investment decisions.

The agreement will put SLB’s Delfi software to work in Ineos’ oil and gas operations.

The UK company will purchase oil producing acreage across the northern part of the south Texas Eagle Ford shale play.

The company also recently secured a long-term deal with ConocoPhillips for 5 mtpa of LNG.

Four licenses are awarded to seven oil companies as this round sees less interest than previous ones.

The deal includes 15 global sites and over 1,700 staff expected to transfer to INEOS upon completion of the sale. The deal also follows BP’s announcement earlier in the month that it would cut 14% of its workforce.