Eni-Ithaca Merger Expands Footprint in North Sea Oil and Gas
SESea(SE) ZACKS·2024-10-04 22:10

Eni SpA (E) Italy's energy giant has merged its UK upstream oil and gas assets with Delek Group's Ithaca Energy, excluding East Irish Sea and carbon capture, utilization and storage activities. On Thursday, Ithaca Energy finalized a £754 million all-share deal to acquire nearly all of Eni's UK oil and gas production assets, establishing one of the largest independent energy companies in the North Sea. Following this merger, the newly expanded Ithaca Energy now holds stakes in six of the UK's ten largest oil ...