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Delek closes in on North Sea deal with Chevron, report says

Premier and Chrysaor are both vying for the Chevron assets. Pictured is the Captain field
Chevron's North Sea Captain field

Israel-headquartered oil firm Delek Group is close to striking a deal to buy Chevron’s North Sea oilfields, a news report said.

The deal would be carried out through Aberdeen-headquartered Ithaca Energy, which was acquired by Delek in 2017.

Sources familiar with the matter told Reuters that an agreement valuing Chevron’s portfolio at around £1.6 billion could be sealed within days.

Chevron said in July 2018 that it was seeking buyers for its North Sea business.

Premier Oil and Ineos are understood to have been in the running for the assets, but Delek has emerged at the top of the pile, the report said.

 

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