Ithaca Energy to Acquire Chevron's North Sea Activities with $ 2 Billion Contract

Ithaca Energy, a UK-based oil and gas producer, has signed a $ 2 billion deal to acquire Chevron's North Sea business, which should make it the second largest independent producer in the North Sea. British basin.

The deal will allow Ithaca, part of the Israeli group Delek, to acquire Chevron North Sea Limited, bringing 10 holdings in oil and gas production, increasing its proved and probable reserves by 150% and multiplying by three production for 2019.

This decision marks the last sharp decline in US energy companies in the North Sea Basin, after ConocoPhillips sold most of its business in the region to Chrysaor, financed by private equity, earlier this year.

Major American energy groups have refocused their activities on opportunities in the American shale sector. The North Sea is increasingly populated by smaller specialized operators who seek to take more advantage of the aging basin.

"The acquisition of CNSL is an important step forward in the long-term development of Ithaca Energy and underlines our belief in the North Sea, particularly in the central British North Sea, where the enlarged company will hold a series of interests in a number of key producer sectors. badets, "said Thomas, CEO of Ithaca.

Chevron said the agreement included interests in its Alba, Alder, Britannia, Captain, Elgin / Franklin, Erskine and Jade fields, adding that only the closure was subject to regulatory approvals.