INEOS Wraps Up Acquisition of CNOOC’s US Oil and Gas Assets

Wednesday, April 2, 2025

INEOS Energy has completed the acquisition of CNOOC’s oil and gas assets in the Gulf of America, increasing its global oil production to over 90 thousand barrels of oil equivalent per day. 

The completion of the deal marks the third major investment by INEOS Energy in the United States, in the past three years and increases capital spend on energy assets by INEOS in the USA to above $3 billion.

This included the 1.4 mtpa LNG deal completed with Sempra in December 2022 and the acquisition of Chesapeake Energy’s oil and gas assets in South Texas in May 2023. 

The deal for the acquisition of CNOOC’s subsidiary CNOOC Energy Holdings U.S.A includes a portfolio of non-operated assets built around two deep water early production assets - Appomattox and Stampede - in the Gulf of America.

In addition, INEOS has acquired several mature assets and supporting business.  

“This is a major step for us into the deepwater US Gulf, which builds on our growing energy business. INEOS Energy is all about competing in the energy transition to provide reliable, affordable energy to meet world demand as the population continues to grow. And progressing carbon storage projects,” said Brian Gilvary, Chairman of INEOS Energy.

"The USA is a very attractive place for INEOS Energy to invest. This is our third deal in three years following the 1.4 mtpa LNG deal with Sempra and the acquisition of Chesapeake Energy’s oil and gas assets in South Texas. Total capital spend on energy assets in the USA now exceeds $3 billion, providing a strong platform for future growth,” added David Bucknall CEO INEOS Energy.

Categories: Industry News Activity Production Asia North America Oil and Gas

Related Stories

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

CNOOC Puts Into Production New Oil Field in South China Sea

CNOOC Starts Production at Two New Oil and Gas Projects

Cairn India Might Invest in US Oil Servicing Firms to Increase Production

MODEC and Samsung Team Up to Install Carbon Capture Tech on FPSO

CNOOC Brings Online Second Phase of Luda Oil Field Project in Bohai Sea

ADNOC Secures LNG Supply Deal with India's BPCL

China's CNOOC Aims for Record Oil and Gas Production in 2025

BP Targets 44% Oil, 89% Gas Increase from India’s Mumbai High Field

BP to Help Boost Oil and Gas Output at India’s Largest Producing Field

Current News

EnQuest Bags Two Production Sharing Contracts off Indonesia

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

Mitigate SCC & HE to Keep Offshore Metal Structures Ship Shape

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Puts Into Production New Oil Field in South China Sea

Sunda Energy Starts Environmental Consultation for Chuditch-2 Well Drilling Plans

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com