Ineos Upstream acquire majority shares in two shale gas licences area in Central Scotland

Falkirk, October 13 2014

INEOS Upstream, the Luxembourg-based group's new oil and gas exploration and production business, have announced their purchase from Reach Coal Seam Gas Ltd of an 80% stake in the 400 square kilometre PEDL 162 shale gas licence area. This follows their August 2014 purchase from BG Group of a 51% share of the shale gas section of the PEDL 133 exploration licence that covers 329 square kilometres of the Midland Valley of Scotland and includes INEOS’s Grangemouth refining and petrochemical complex and the area around it,

Dart/IGas have the remaining 49% of the PEDL 133 shale gas exploration license and 100% of the coal bed methane exploration license for the area.

Publication date: 

Monday, October 13, 2014