(dramatic music)
- [Narrator] In September this year,
INEOS completed the acquisition
of Danish oil and gas business, DONG.
The deal now positions INEOS as a top 10
oil and gas company in the UK,
and the biggest private
enterprise in the North Sea.
- I think if you look at
oil and gas as a whole,
with now, six businesses going forward.
You know, 900 or so employees
across that group of assets
close to a billion
dollars of EBITA in 2017,
a very significant organisation.
And now with a platform that
allows us to grow even further.
- [Narrator] The DONG
business had been built up
around three world-class oil fields.
Ormen Lange is the second largest
field in Norwegian waters.
Laggan Tormore is a new
gas field west of Shetland.
And Syd Arne is a large field in Denmark.
- And the DONG portfolio had, actually,
a reasonably good mix of both
sizable near-term production,
but at the same time, it
had over 300 million barrels
of what we call contingent resources,
which we know are there; it's
a question of whether we can
develop them economically,
but they are there.
- [Narrator] Off the
back of the DONG deal,
there has been further developments,
as INEOS acquired licences to explore
deep water areas to the north of Scotland.
- We have agreed a deal with
a company called Siccar Point
to farm into a couple
of licences adjacent to
acreage and discoveries
that we have ourselves,
with the aim to unlock that potential
and ultimately develop a new area
north of the greater
Laggan assets that we own.
(dramatic music)
- [Narrator] On top of this,
there are four new wells
being drilled by INEOS
on its Breagh field.
A few members of the
team managed to find time
to take a closer look.
- Going out there was
very, very interesting.
Understanding how they
think about their safety,
how they go about being efficient,
how they manage what is inherently
quite a dangerous environment to work in,
and yet being efficient,
I thought was fantastic.
So I want to thank
everybody for hard effort.
Take a well-deserved holiday break,
ready for some new action in the new year.
