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LONDON, March 25 (Reuters) - INEOS Energy said on Thursday it has agreed to sell its Norwegian oil and gas business to PGNiG Upstream Norway AS for $615 million.
The deal includes all of INEOS’ oil and gas interests in production, licenses, fields, facilities and pipelines.
INEOS Energy was formed late last year, incorporating the group’s existing oil and gas assets, and is chaired by former BP finance chief Brian Gilvary.
“The deal allows us to monetise a non-operated, predominantly gas portfolio at an attractive price compared to our hold value,” Gilvary said in a statement. (Reporting by Susanna Twidale; Editing by Susan Fenton)