Israeli Billionaire Backed Delek Group Ltd. Buys Chevron’s North Sea Oil & Gas Fields

By John Heerdink LinkedIn

The Israeli billionaire Yitzhak Tshuva backed energy company, Delek Group Ltd, announced that it is buying Chevron Corp’s North Sea oil & gas fields via a $2 billion deal. The deal marks the beginning of a strategy for Delek to expand its roots beyond its domestic market and transform the company into an international oil and gas firm. Recently, the company is investing in energy assets in U.K and Canada.

As per reports, Chevron’s Central North Sea asset including Alba, Alder, and Erskine fields, along with Britannia, Elgin/Franklin, and Jade non-operated projects are to be acquired by Delek’s Ithaca Energy unit excluding BP Plc-operated Clair venture.

Dow 30 component Chevron Corporation (CVX), through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide.  To learn more about Chevron (CVX) and to track their progress please visit the Vista Partners Chevron Page.

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Israel’s Delek Buys Chevron’s U.K. Oil Fields for $2 Billion

Delek Group Ltd., the energy company controlled by Israeli billionaire Yitzhak Tshuva, agreed to buy North Sea oil and gas fields from Chevron Corp. for about $2 billion, the latest deal in a region where smaller players are becoming increasingly prominent. The North Sea, a prolific but aging producing..

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