Ineos buys up Fridman’s North Sea fields

Mikhail Fridman

Mikhail Fridman

The Swiss chemical company Ineos has acquired the 11 oil and gas fields in the UK’s North Sea waters that Russian billionaire Mikhail Fridman‘s LetterOne investment fund acquired last year through its €5.1bn takeover of the German RWE’s DEA oil unit.The British government had given him six months to sell the fields or risk having their licences revoked.
The assets that Ineos has acquired include 70% of the Breagh deposit which accounts for 3% of gas produced in Britain.
 

Source: Rosbalt