Development of the Solsort field approved by INEOS and partners

INEOS and its Solsort division partners, Danoil and Nordsøfonden, have agreed a final investment decision on the development of the Solsort West field in the Danish North Sea, following development approval from the Danish Energy Agency.

The Solsort development consists of two wells. Solsort’s oil and gas will be produced at the Syd Arne rig, which is operated by INEOS.

The first oil and gas production from Solsort is expected to occur in the 4th quarter of 2023. Production from Solsort will be a valuable contribution to the energy supply and self-sufficiency of Denmark and Europe. When Solsort starts production, gas from INEOS will cover up to 10 percent of Denmark’s gas consumption.

David Bucknall, CEO of INEOS Energy, said: “The Solsort development permit fits well with our overall investment strategy in Denmark to optimise the already existing infrastructure to ensure security of supply, while at the same time investing in CO2 storage 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 greener solutions. INEOS has ambitions to deliver both.”

Mads Weng Gadde, head of INEOS Energy DK, said: “The decision to develop the Solsort field – the first Danish oil and gas development in Denmark for many years – represents an important step for our business and strengthens INEOS’ activities in Denmark.

“The production of Solsort will be a valuable contribution to the energy independence and self-sufficiency of Denmark and Europe in a difficult period for Europe.”

For more information visit www.ineos.com