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Green light for Dong oil sale

Danish and Norwegian authorities approve transfers of licences to Ineos

Green light for Dong oil sale image

Dong Energy has received regulatory approvals from the Danish and Norwegian authorities to transfer licences necessary to conclude the $1.3bn transfer of share capital in its upstream oil and gas business to Ineos. 

Ineos will take over all decommissiong liabilities as part of the deal, Dong said.

“In accordance with the regulatory framework in Denmark and Norway, Dong Energy assumes a secondary liability for the decommissioning of existing Danish and Norwegian offshore facilities,” it said.

The companies expect to complete the transaction on Friday.

Image: Dong Energy

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