LetterOne transaction with INEOS

Department of Energy and Climate Change

October 21
20:14 2015

LetterOne is finalising the sale of 12 North Sea assets to the leading chemical and oil company INEOS. This new deal is a direct result of the Governments intervention in April to ensure the continued and safe production of the UKs petroleum resources in the North Sea.

DECC spokesperson said:

The oil and gas industry is an essential part of our plan to provide secure, affordable and reliable energy for hardworking families and businesses.

We have a responsibility to ensure its continued and safe production. INEOS is a well-funded, cost-conscious player who will work with us to maximise the potential of the North Sea.

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