INEOS AND PARTNERS APPROVED TO DEVELOP SOLSORT FIELD OFFSHORE DENMARK

INEOS and its partners in the Solsort Unit, Danoil and Nordsøfonden, have agreed on Final Investment Decision regarding the development of the Solsort West field in the Danish part of the North Sea after having received the approval of the development from the Danish Energy Agency.

The Solsort development consist of two wells. The Solsort oil and gas will be produced via the Syd Arne installation operated by INEOS. First oil and gas from Solsort is expected in Q4 2023. The production from Solsort will be a valuable contribution to Danish and European energy supply and self-sufficiency. When Solsort starts production the gas from INEOS will cover up to 10 % of the Danish gas consumption.

David Bucknall, CEO INEOS Energy said: “The sanction of the development of Solsort fits well with our overall investment strategy in Denmark of optimizing already existing infrastructure to support security of supply and at the same time investing into storage of CO2 to support the green transition. There will be a need for oil and gas for many years to come but at the same time we need to find new and green solutions. INEOS has the ambition to provide both”.

Mads Weng Gade, Head of INEOS Energy DK said: “The decision to develop the Solsort field – the first Danish oil and gas development in many years in Denmark – represents an important step to our business and strengthens the activities of INEOS in Denmark. The Solsort production will be a valuable contribution to Danish and European energy independency and self-sufficiency in a difficult period for Europe.”