Ineos To Go Ahead With Solsort Field Development
Oil and gas company Ineos and its partners in the Solsort Unit have agreed on a Final Investment Decision regarding the development of the Solsort West field in the Danish part of the North Sea after having received the approval for the development from the Danish Energy Agency.
The Solsort development consists of two wells. The Solsort oil and gas will be produced via the Syd Arne installation operated by Ineos. The company’s partners in the field are Danoil and Nordsøfonden.
First oil and gas from Solsort is expected in the fourth quarter of 2023. The production from the field will be a valuable contribution to Danish and European energy supply and self-sufficiency. When Solsort starts production the gas from Ineos will cover up to 10 percent of the Danish gas consumption.
“The sanction of the development of Solsort fits well with our overall investment strategy in Denmark of optimizing already existing infrastructure to support the security of supply and at the same time investing into the storage of CO2 to support the green transition. There will be a need for oil and gas for many years to come but at the same time, we need to find new and green solutions. Ineos has the ambition to provide both,” David Bucknall, CEO of Ineos Energy said.
“The decision to develop the Solsort field – the first Danish oil and gas development in many years in Denmark – represents an important step to our business and strengthens the activities of Ineos in Denmark. The Solsort production will be a valuable contribution to Danish and European energy independency and self-sufficiency in a difficult period for Europe,” Mads Weng Gade, Head of Ineos Energy Denmark added.
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