EnQuest, Delek Group end talks over Kraken development

Oil producer EnQuest has ended talks with Israel’s Delek Group over a potential sale of a stake in the Kraken development in the North Sea.

“EnQuest and Delek have ultimately been unable to reach an agreement and those discussions have now terminated.”

EnQuest had said back in July that it was in talks with Delek, confirming that the two had signed a non-binding memorandum of understanding.

The key terms of the proposal had involved EnQuest farming out to Delek a 20% working interest in the Kraken development.