Delek-backed Ithaca Energy completed the acquisition of the North Sea assets of Marubeni for $140m.

Delek-backed Ithaca Energy, an oil and gas operator focused on North Sea production, appraisal and development activities, completed the acquisition of the North Sea assets of Marubeni, a major Japanese integrated trading and investment business conglomerate, for $140m. According to Delek Group, the deal forms part of Ithaca's strategy of expanding and developing activities in the UK waters of the North Sea, as part of its plans to raise capital on the London Stock Exchange or bring in partners.