×
×
Project Insights

IGas and Swiss Ineos sign shale deal

UK oil and gas explorer IGas Energy has signed an agreement to give Swiss chemical company Ineos a 50% interest in seven of IGas’s shale gas licences in the UK
By Annemarie Botzki 10 March 2015 Europe & Russia / Exploration & Production 0 15489

UK oil and gas explorer IGas Energy has signed an agreement to give Swiss chemical company Ineos a 50% interest in seven of IGas’s shale gas licences in the UK’s North West and the option to buy a 20% interest in two further shale licences in the East Midlands.

Ineos also bought IGas’s interest in the shale licence around Grangemouth in Scotland, giving the company 100% ownership.

As well as making a £30 million ($45.15 million) cash payment, Ineos committed to fund a two-phase work programme of...