On 24 May 2017, DONG Energy announced the agreement to divest the entire share capital of DONG E&P A/S to INEOS, including that closing of the transaction was subject to certain regulatory approvals.

DONG has now announced that the parties have received the regulatory approvals from the Danish and Norwegian authorities to the indirect transfer of the oil and gas licenses in the respective countries.

As part of the transaction, INEOS takes over all decommissioning liabilities. In accordance with the regulatory framework in Denmark and Norway, DONG Energy assumes a secondary liability for the decommissioning of existing Danish and Norwegian offshore facilities.

The parties expect to complete the transaction on Friday 29 September 2017.

The information in this announcement does not change DONG Energy’s previous financial guidance for the financial year 2017 or the announced expected investment level for 2017.

Tags: DONG E&P A/S, DONG Energy, Ineos