Ineos’ bid to acquire ConocoPhillips’ North Sea portfolio appears to have fallen through.
Both companies today confirmed that exclusive talks had concluded.
Conoco said a number of other companies were in the running for the package.
A spokesman for Conoco said: “The period of exclusive negotiations with Ineos has concluded and we will now continue the marketing process with a number of additional parties expressing interest in our UK assets.”
Ineos said in an emailed statement to Energy Voice: “We confirm that we are no longer in discussions with ConocoPhillips.”