Delek responds to Chevron North Sea reports

Delek Energy has confirmed that its subsidiary Ithaca Energy has submitted a bid in relation to Chevron’s sales process for its UK North Sea interests.

Offshore staff

TEL AVIV, Israel – Delek Energy has confirmed that its subsidiary Ithaca Energy has submitted a bid in relation to Chevron’s sales process for its UK North Sea interests.

These comprise stakes in the producing oil and gas fields Alba, Alder, Britannia (and its satellites), Captain, Elgin/Franklin, Erskine and Jade, all in the central UK sector.

Should any transaction be concluded between the parties Delek expects closure would follow in 2019 and would be funded partly through conventional non-recourse debt finance and existing resources.

The company issued its statement in response to recent press speculation, stressing that there is no certainty that the submission of a bid or any subsequent discussions will lead to a binding sale and purchase agreement or transaction.

04/29/2019

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