INEOS Energy has successfully completed the acquisition of CNOOC Energy Holdings U.S.A. Inc., a subsidiary of CNOOC International Limited. This acquisition strengthens INEOS Energy’s global produsction, increasing it to over 90,000 barrels of oil equivalent per day.
Strengthening INEOS Energy’s Presence in the USA
This marks INEOS Energy’s third major investment in the U.S. within three years. Previous investments include:
*A 1.4 mtpa LNG deal with Sempra, finalized in December 2022.
*The acquisition of Chesapeake Energy’s oil and gas assets in South Texas in May 2023.
With this latest acquisition, INEOS Energy expands its footprint in the U.S. Gulf, enhancing its onshore and offshore portfolio while strengthening strategic partnerships in key U.S. energy projects.
Expanding Offshore Portfolio with Deepwater and Mature Assets
The deal includes a diverse portfolio of non-operated assets, centered around two deepwater early production fields—Appomattox and Stampede—in the U.S. Gulf. Additionally, INEOS Energy acquires several mature assets and supporting businesses, further diversifying its energy holdings.
Commitment to Growth and Energy Transition
David Bucknall, CEO of INEOS Energy, emphasized, “The USA is a highly attractive market for INEOS Energy. This is our third deal in three years, following the 1.4 mtpa LNG agreement with Sempra and the Chesapeake Energy acquisition. Our total capital investment in U.S. energy assets now exceeds $3 billion, creating a strong foundation for future growth.”
INEOS Energy remains committed to a dual-track strategy—balancing the world’s current energy needs while investing in the energy transition. The company actively produces and trades oil, gas, power, and carbon credits while investing in LNG and Carbon Capture and Storage (CCS).
As per the press release, with this acquisition, INEOS Energy solidifies its position as a key player in the evolving U.S. energy landscape, driving both growth and sustainability.
