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Delek confirms bid for Chevron's central North Sea portfolio

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

Israel-headquartered firm Delek Group today confirmed it had tabled an offer for a package of central North Sea assets owned by US oil major Chevron.

Delek made the announcement in response to recent media speculation suggesting it was close to wrapping up a deal after overcoming competition from Premier Oil and Ineos.

The bid was submitted through Delek’s wholly-owned subsidiary Ithaca Energy, headquartered in Aberdeen.

The approach forms part of Delek’s strategy to expand its activities in international energy markets.

Delek said the package included Chevron’s stakes in the Alba, Alder, Britannia (and its satellites), Captain, Elgin-Franklin, Erskine and Jade fields.

It is thought the assets could fetch around £1.6 billion.

Chevron confirmed in July 2018 that it was seeking buyers for the package, which doesn’t include its 19.4% stake in the BP-operated Clair field, west of Shetland.

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