Ineos to move ahead with Solsort West development offshore Denmark

Chemicals giant Ineos has reached a final investment decision to develop of the Solsort West oil and gas field in the Danish North Sea.

The development consists of two wells, with production set to be tied back to the Ineos-operated Syd Arne installation.

Ineos Energy chief executive David Bucknall said: “The sanction of the development of Solsort fits well with our overall investment strategy in Denmark of optimising already existing infrastructure to support security of supply and at the same time investing into storage of carbon dioxide 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 green solutions. Ineos has the ambition to provide both”.

Ineos is partnered by Danoil and Danish state entity Nordsofonden.

First output is expected in the fourth quarter next year.

Meanwhile, Maersk Drilling has been awarded a contract by Ineos for the harsh-environment jack-up rig Maersk Resolve to drill the two development wells.

The contract — worth $34 million — is expected to start in the first half of 2023, with an estimated duration of 322 days.

Ineos Energy closed on its $150 million acquisition of former assets of Hess in Demark in 2021, taking control of Syd Arne and boosting its interest in Solsort.