Infrastructure company could take on two North Sea platforms

Feb. 10, 2020
Delek Group subsidiary Ithaca Energy (UK) has signed a letter of intent with an unnamed global investment company.

Offshore staff

TEL AVIV, Israel – Delek Group subsidiary Ithaca Energy (UK) has signed a letter of intent with an unnamed global investment company.

The two parties intend to create a new infrastructure company which will acquire some of Ithaca’s production facilities in the UK central North Sea, as part of a sale and charter agreement.

These will include the semisubmersible production platform FPF-1 serving the Greater Stella Area, and the FPSO at the Captain field, owned 85% by Ithaca.

Delek estimates the value of the transaction at between $875 million (based on current known production) and a $1.05 billion, depending on de facto daily production and actual reserves in the areas covered by the facilities.

The parties will also seek to add additional assets to the venture.

02/10/2020

Courtesy OLT Offshore LNG Toscana
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