INEOS and Shell to co-invest in US Gulf

HOUSTON, May 5, 2026 – INEOS Energy and Shell Offshore have agreed to jointly invest in oil and gas exploration and development opportunities near the Appomattox platform in the US Gulf, INEOS announced on Tuesday.

Under the agreement, INEOS will acquire a 21% working interest in a portfolio of assets located within tieback distance of the Appomattox production platform. The financial terms of the deal were not disclosed.

The partnership will initially target Shell’s deepwater Fort Sumter discovery and the drilling of the Sisco exploration well. An additional exploration well is planned before the end of 2030.

INEOS said the move reinforces its growth strategy in the US Gulf, complementing its positions in Eagle Ford, and deepens its collaboration with Shell, one of the region’s leading operators, as both companies seek to expand production while leveraging existing infrastructure.

“Partnering with Shell on these opportunities is a natural step. We are focusing on areas close to existing infrastructure where we can move quickly, control costs and unlock new production. This is disciplined growth targeting exploration, shared risk and returns,” said INEOS Energy CEO David Bucknall.

INEOS Energy’s upstream portfolio also includes assets offshore Denmark and in the UK Continental Shelf. In the US, the company signed a collaboration agreement with Sandpiper Chemicals in April 2026 to develop a low-carbon methanol facility in Texas City.

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