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Home Business Local Business

Delek’s Ithaca snaps up Chevron North Sea assets for £1.6bn

By Mark Lammey and David McPhee
May 31, 2019, 9:15 am
Chevron's Captain field.
Chevron's Captain field.

Aberdeen-headquartered Ithaca Energy said yesterday that it would snap up US oil giant Chevron’s central North Sea business in a £1.6 billion deal.

The deal hands Ithaca stakes in 10 producing North Sea fields and continues the trend of North American majors selling large packages of UK assets.

ConocoPhillips recently agreed to offload its UK division to private-equity backed Chrysaor and Marathon Oil is divesting its North Sea business to RockRose Energy.

Read more on Energy Voice here.

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