End of an era looms as Chevron seeks UK exit

Clair is the big attraction for would-be buyers

1 minute read

Following a subdued start to 2024, the North Sea M&A market has burst into life. Private-equity owner HitecVision is considering a sale of UK focussed NEO Energy. Ithaca and Eni have annouced a US$1 billion combination of their UK upstream business. Now Chevron is reportedly selling its remaining UK Continental Shelf (UKCS) assets, including its 19.42% non-operated stake in the giant Clair field West of Shetland. This would close its UK North Sea business after 55 years in the country.

Using Wood Mackenzie's Lens Upstream, our experts dive into Chevron's portfolio and discuss: 

  • How the UK fits in Chevron's global portfolio 
  • The key drivers for a Chevron UK exit
  • The importance of Clair in a UK context
  • The investment and production outlook for Clair 
  • What this tells us about potential buyers 

Complete the form to watch our 10 minute video deep-dive. 

Wood Mackenzie Lens

The industry standard for critical decision-support

Find out more

Related content