Syensqo to Sell Oil and Gas Unit to SNF Group for $155M
Syensqo will divest its oil and gas business unit to France-based SNF Group for $155 million, a move the company said advances its focus on specialty chemicals.
Syensqo said it has reached an agreement to sell its oil and gas business unit to SNF Group, a specialty chemical manufacturer based in France. The sale is valued at about €135 million (US $155 million) and is expected to close in the first quarter of 2026, pending regulatory approval and completion of employee consultation processes.
According to the Brussels-based company, the divestment represents a step forward in its transition toward a pure specialty chemicals focus following its separation into an independent entity. CEO Ilham Kadri said in a statement the agreement “advances our pure play specialty strategy” and “allows us to further sharpen our strategic focus on our core segments.”
SNF CEO Pascal Remy said the addition of the business will expand SNF’s technology portfolio for oilfield customers and build on both companies’ shared priorities in safety and sustainability.
Syensqo’s Oil and Gas Business Unit produces oilfield stimulation chemicals and reportedly generated roughly $430 million in sales in 2024. The division accounts for about 6% of Syensqo’s total sales and employs about 600 people, according to the company.
Amanda Joshi has more than 18 years of experience in business-to-business publishing for both print and digital content. Before joining Chemical Processing, she worked with Manufacturing.net and Electrical Contracting Products. She’s a versatile, award-winning editor with experience in writing and editing technical content, executing marketing strategy, developing new products, attending industry events and developing customer relationships.
Amanda graduated from Northern Illinois University in 2001 with a B.A. in English and has been an English teacher. She lives in the Chicago suburbs with her husband and daughter, and their mini Aussiedoodle, Riley. In her rare spare time, she enjoys reading, tackling DIY projects, and horseback riding.
