INEOS Energy (INEOS) has acquired the Gulf of Mexico business held by CNOOC Energy Holdings USA Inc., a US subsidiary of CNOOC International Limited (CNOOC). The deal includes a portfolio of non-operated assets built around two deep water early production assets (Appomattox and Stampede) in the Gulf of Mexico. In addition, INEOS has acquired several mature assets and supporting business.
The CNOOC Gulf of Mexico assets and strategic partnerships in major US energy projects further complements INEOS’ existing onshore portfolio. This acquisition is the third major investment by INEOS Energy in the United States in the past three years, following the 1.4 MTPA liquefied natural gas (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.
INEOS Energy’s total capital spend on energy assets in the United States now exceeds US$3 billion.
