INEOS and Shell agree to progress new oil and gas opportunities in the Gulf of America
INEOS Energy and Shell Offshore Inc., a subsidiary of Shell plc, have agreed to jointly invest in exploration and development opportunities aimed at strengthening their collaboration and supporting long-term energy security in areas within tieback distance of the Appomattox platform in the Gulf of America. As part of the agreement, INEOS will acquire a 21 percent working interest for an undisclosed amount, aligning with its existing ownership stakes in Appomattox, Rydberg, the recent Nashville discovery, and the Mattox pipeline.
The agreement will initially focus on three exploration and production opportunities, including Shell’s pre-final investment decision (pre-FID) Fort Sumter discovery, the drilling of the Sisco exploration well, and an additional exploration well targeted for completion by the end of 2030.
The partnership supports INEOS Energy’s broader growth strategy, which includes established positions in the Gulf of America, Eagle Ford South Texas, offshore Denmark, and the UK Continental Shelf. It also further strengthens collaboration with Shell in pursuing future growth and expansion opportunities.
INEOS Energy stated that the agreement is intended to help unlock additional value from the Appomattox host platform. The collaboration will build on existing infrastructure by integrating the early production assets of Appomattox and Rydberg with the current pipeline network to deliver high-margin production.
David Bucknall, CEO of INEOS Energy, said the partnership with Shell represents a natural progression for both companies, with a focus on opportunities near existing infrastructure that can accelerate development timelines, manage costs, and increase production. He added that the strategy reflects disciplined growth through targeted exploration, shared risk, and long-term returns while supporting energy security objectives.
The agreement marks another step in INEOS Energy’s strategy to expand its global upstream portfolio while maintaining capital discipline and leveraging partnerships with leading operators.
For more information visit www.ineos.com
