INEOS Energy completed the acquisition of HESS Denmark for $150m.

INEOS Energy, a chemical and energy group, completed the acquisition of HESS Denmark, a Danish oil field operation of energy company HESS, for $150m. As part of the deal INEOS acquired 61.5% of the Syd Arne oil field, used to operate by HESS, which complements the 36.8% share INEOS already holds in the field. INEOS also acquired 4.8% of the Solsort field, which is already operated by INEOS. “This deal represents a major step in reshaping our energy business. HESS was one of the earliest pioneers in developing this basin. This deal will open up future growth prospects that can be developed in Denmark’s offshore oil and gas sector, supported by a very promising carbon storage project helping to deal with future emissions," Brian Gilvary, INEOS Chairman.