North Sea-focused oil and gas company Spirit Energy has signed an agreement to divest two non-core Danish assets to INEOS.
Spirit Energy will, as part of the deal, sell to Ineos two of its companies with licenses in Denmark. The two companies jointly own 40% in the Hejre discovery and 27.7% in the Solsort discovery in the Danish North Sea.
The transaction is subject to approval from the relevant authorities and is expected to close later this year, Spirit said earlier this week.
Dag Omre, Executive Vice President of Spirit Energy Norway & Denmark, said: "In line with our strategy of managing our portfolio, we evaluated these opportunities and concluded that they are no longer core to Spirit Energy."
"We look forward to working closely with INEOS in the coming months to conclude the transaction, as well as focusing on our portfolio of assets, developments and exploration opportunities across North-West Europe."