INEOS Energy to acquire all oil and gas interests from HESS Corporation
INEOS AG has agreed to acquire Hess Denmark ApS, a Denmark-based company engaged in oil exploration operations, from Hess Corporation for a consideration of USD 150m. Under the terms, INEOS will acquire a 61.5% interest in the South Arne Field and a 4.8% interest in the Solsort field. Pursuant to the acquisition, approximately 60 Hess Denmark employees will join Hess. The transaction subject to customary closing conditions and government approvals and is expected to complete in third quarter 2021.
