INEOS is setting up an offshore division to look at buying oil and gas assets in the North Sea.

The business, which last week confirmed it would invest more than £600 million in fracking in the UK, is recruiting a number of senior roles for the division.

Its website is advertising for a chief executive of North Sea upstream operations to lead what is described as a new "offshore oil and gas production business".

That individual will lead a strategic review to support Ineos's entry into North Sea production and recommend investments to the main board. Other roles being advertised include an operations director for North Sea as well as commercial, sub-surface, engineering and supply chain managers.

It is understood the company wants to control oil and gas assets to make sure its plants, including the Grangemouth operation, have secure supplies.

The chief executive role description says: "A key strategic issue for INEOS is to source alternative sources of oil and gas feed stocks and to integrate these ... into its consuming assets to create a more competitive production base."