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INEOS Energy has taken a bold step further into the U.S. energy market with the acquisition of offshore oil and gas assets from CNOOC Energy Holdings U.S.A. Inc., a subsidiary of China's state-owned CNOOC International Ltd. The move not only deepens INEOS’s footprint in the prolific Gulf of Mexico but also reflects a broader shift toward durable, efficient infrastructure in the offshore energy sector—where advanced materials like clad plates are becoming increasingly essential.
This deal hands INEOS a collection of non-operated interests in key deepwater fields—most notably the Appomattox and Stampede projects—plus a range of supporting infrastructure assets. These additions bring INEOS’s global output to over 90,000 barrels of oil equivalent per day, while also strengthening its position as a serious offshore player in the Western Hemisphere.
It’s the latest in a string of aggressive moves. In the past three years, INEOS has entered a major LNG agreement with Sempra and acquired Chesapeake Energy’s South Texas assets, rapidly building momentum in both onshore and offshore arenas.
Founded in 2020 as a spin-off of the broader INEOS Group—one of the world’s largest chemical manufacturers—INEOS Energy was created to manage exploration, production, and energy trading. While still young, the company has established itself quickly, driven by a dual mandate: deliver traditional energy securely and invest in emerging clean technologies.
With operations in the North Sea, Denmark, and the United States, INEOS Energy is also investing in carbon capture and storage (CCS) and green hydrogen to support the global energy transition.
CNOOC International is the overseas branch of China National Offshore Oil Corporation (CNOOC), China’s dominant offshore oil producer. Known for its large-scale global operations, CNOOC International has been involved in exploration and production across Asia, Africa, the Americas, and Europe.
Its decision to divest from the Gulf of Mexico may reflect a broader trend among state-owned enterprises reassessing international exposure amid shifting geopolitical dynamics and tightening regulatory scrutiny in Western markets.
Though rarely in the headlines, clad plates play a pivotal role in the success—and safety—of offshore oil and gas operations like Appomattox and Stampede. These specialized metal plates are made by bonding a corrosion-resistant alloy, such as stainless steel or nickel alloy, to a carbon or low-alloy steel base. The result: materials that can withstand the punishing pressures and corrosive substances found deep under the sea.
Clad plates are especially useful in subsea pipelines, pressure vessels, manifolds, and heat exchangers—critical infrastructure in any deepwater setup. Their use reduces maintenance frequency, extends service life, and improves safety—all vital for companies like INEOS looking to maximize return on investment in harsh marine environments.
Manufacturers such as Nanjing Fugo New Material Tech Co., Ltd. are at the forefront of producing these advanced materials, supplying to offshore projects worldwide and contributing to a new era of resilient energy infrastructure.
This acquisition is about more than barrels—it’s about building long-term resilience in a complex and evolving energy landscape. As INEOS Energy positions itself for a future that balances traditional oil and gas with carbon-reduction technologies, investments in durable assets, sustainable materials, and strategic partnerships are likely to shape its next chapter.
With this deal, INEOS is not just acquiring wells—it’s anchoring itself more firmly in the energy ecosystem of tomorrow.
Nanjing Fugo New Material Tech Co., Ltd. (Fugo Tech) is an ISO 9001 and PED 2014/68/EU certified manufacturer specializing in Clad Material (Explosive Clad Plates & Rolled Clad Plate, Clad Bar & Clad Transition Joints) and Titanium, Nickel Alloy, and Stainless Steel products (Pipe/Fitting/Flange/Fastener) which are widely used in the Heat Exchanger, Pressure Vessel, Reactor, Column, Tower, and other process equipment.
Fugo Tech offers a wide range of materials, including Titanium, Nickel Alloy, Copper, Cu-Ni, and Stainless Steel, along with custom processing services (Tube Sheet drilling, Dish Head forming, and Overlay Welding) for Oil & Gas, Petrochemical, Chemical, Energy, Paper & Pulp, Marine, Shipbuilding, Environment, Metallurgy, and New Energy Vehicles, with a strong focus on high-performance Clad Plate（Bimetallic Plate）& Titanium & Nickel Alloy & Stainless Steel solutions.
For any new requirement, please contact: sales@fugo-tech.com
Fugo Tech is focused on the manufacturing of clad metal plate and distributes the Stainless Steel, Titanium, Nickel Alloy, Zirconium and other non-ferrous metal pipes, fittings, flanges, and fasteners.
