Ineos takes its first step into UK shale exploration

Anthony Clark
PRW

Published: August 18, 2014 1:15 pm ET
Updated: August 18, 2014 1:18 pm ET

Image By: Ineos Ineos Chairman Jim Ratcliffe

Related to this story

Topics Materials Materials Suppliers
Companies & Associations

Ineos Group AG has moved into United Kingdom shale exploration with the purchase of BG Group’s 51 percent share of the shale section of a joint Petroleum Exploration and Development License (PEDL). The remaining 49 percent is owned by exploration company Dart Energy. No figures were disclosed.

The PEDL 133 license covers 329 square kilometres of the Midland Valley of Scotland, which includes Ineos’ Grangemouth, Scotland, refining and petrochemical complex and the area around it.

Gary Haywood, chief executive of Ineos Upstream, said: “We are very pleased to have agreed the purchase of 51 percent of the shale section of the PEDL 133 license. Over the last year Ineos Upstream has been drawing together a team of experts in the sector, including a number of leading shale exploration and development specialists from the U.S. This expertise gives us the perfect platform to move into onshore exploration.

“This is a logical next step for Ineos and we are very excited about it. We are one of very few businesses that can use shale gas as both a fuel and a petrochemical feedstock,” he added.

“With our large UK asset base, our existing capabilities in operating oil and gas facilities and our exemplary safety and environmental record, Ineos is well placed to become a major player in the UK onshore gas production sector.”

Ineos is based in Rolle, Switzerland.


Comments

Ineos takes its first step into UK shale exploration

Anthony Clark
PRW

Published: August 18, 2014 1:15 pm ET
Updated: August 18, 2014 1:18 pm ET

Post Your Comments


Back to story


More stories

Image

PolyOne launches Geon BIO PVC using soy-based materials

April 24, 2015 11:48 am ET

More than a decade of research is paying off for Battelle Memorial Institute in the form of Geon BIO PVC compounds from PolyOne Corp.    More

Image

Study suggests infants at lower risk from BPA exposure than expected

April 23, 2015 4:58 pm ET

A new study shows that newborn babies may have less risk from bisphenol A exposure than originally thought.    More

Image

Braskem and Odebrecht reconsidering West Virginia plastics project

April 23, 2015 2:54 pm ET

Brazilian firms Braskem and Odebrecht have confirmed that they are re-evaluating Project Ascent, the major plastics and petrochemicals project they...    More

Image

DuPont center in India gets LEED Certification

April 23, 2015 1:07 pm ET

DuPont Co.'s Knowledge Center in Hyderabad, India, was awarded LEED certification by the U.S. Green Building Council.    More

Image

SiVance opens new R&D lab

April 23, 2015 12:07 pm ET

Milliken & Co. unit SiVance LLC has opened a new research and development lab for silicone and silane technologies in Gainesville, Fla.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events