"Ineo" is Latin for a new beginning, "Eos" is the Greek goddess of dawn and "neos" means something new and innovative or Inspec Ethylene Oxide Specialities
INEOS is one of the largest privately-owned chemicals companies and the 200th largest businesses in the world. We employ around 20,000 people across 171 sites in 24 countries with sales in 2017 of $60bn and EBITDA close to $7bn. We have grown rapidly in the petrochemicals sector over the past 20 years, with more recent focus broadening our activity into the Upstream E&P sector.
INEOS is currently a Top 10 company and the biggest private enterprise operating in the North Sea. Our oil and gas activities comprise six different businesses focused on onshore gas development; INEOS Oil & Gas UK and Shale operating in the UK southern North Sea as well as non-operated assets West of Shetland; INEOS FPS, which runs the Forties Pipeline System, acquired from BP; INEOS Upstream Services; INEOS Oil & Gas Denmark and INEOS Oil & Gas Norway running assets acquired from DONG Energy in 2017. The Oil & Gas business have about 1000 employees and capabilities to take on further projects and growth.
Our business in Norway is based on exploring, producing, distributing and trading oil & gas. We have considerable activity on the Norwegian shelf. We are partner in producing fields on the Norwegian shelf, and we participate in exploration and development of other licenses and fields. We have extensive experience working closely with major and independent oil companies and we are an experienced operator of both exploration and production licenses. The company in Norway was established in 2017, when INEOS acquired the company from former DONG Energy.