INEOS, Shell agree joint investment in Gulf of Mexico exploration projects

INEOS Energy and Shell plc, through its subsidiary Shell Offshore Inc., have agreed to jointly invest in exploration and development opportunities near the Appomattox platform in the Gulf of Mexico, strengthening cooperation between the companies and supporting long-term energy security initiatives.

As part of the agreement, INEOS Energy will acquire a 21 percent working interest for an undisclosed sum, aligning with its existing ownership stakes in Appomattox, Rydberg, the Nashville discovery and the Mattox pipeline infrastructure.

The partnership will initially focus on three exploration and production opportunities, including Shell’s pre-final investment decision (FID) Fort Sumter discovery, the drilling of the Sisco exploration well and an additional exploration well planned before the end of 2030.

The agreement forms part of INEOS Energy’s broader expansion strategy, which includes operations in the Gulf of Mexico, Eagle Ford in South Texas, offshore Denmark and the UK Continental Shelf. The company said the partnership with Shell would further strengthen efforts to pursue future growth opportunities while leveraging existing infrastructure.

INEOS Energy said the collaboration aims to unlock additional value from the Appomattox platform by integrating production assets from Appomattox and Rydberg with existing pipeline infrastructure to support efficient production and improve project economics.

David Bucknall, CEO of INEOS Energy, said the partnership reflects the company’s focus on infrastructure-led growth, targeting areas close to existing facilities where development can progress efficiently while controlling costs and sharing exploration risk.

The latest agreement marks another step in INEOS Energy’s strategy to expand its upstream portfolio globally while maintaining capital discipline and working alongside established industry operators.

For more information visit www.ineos.com