Shell and INEOS Strike Gulf of Mexico Exploration Deal

Shell and INEOS Energy have agreed to jointly invest in exploration and development opportunities in the U.S. Gulf of Mexico, the UK-based energy unit of chemicals giant INEOS said on Tuesday. INEOS Energy and Shell Offshore Inc, a subsidiary of the UK-based supermajor, are thus boosting their cooperation and will be exploring for opportunities in areas in tieback distance to the Shell-operated Appomattox production hub in the Gulf of Mexico. As a result of the strengthened cooperation, INEOS is buying a 21% working interest in these assets for…