Another Oil Major Is Fleeing The North Sea

Chevron has just become the latest American oil major to have quit the UK North Sea after Delek Group’s fully owned North Sea E&P subsidiary, Ithaca Energy, said on Monday it had completed the acquisition of Chevron’s North Sea assets in the UK for US$2 billion.   Ithaca Energy announced the deal in May. The completion of the transaction adds interests in ten producing fields to Ithaca Energy’s portfolio offshore the UK, including interests in four oil fields and six gas-condensate fields. “The significantly…