Israel’s Delek Group, the country’s leading gas producer, is looking to expand beyond the East Mediterranean and in May finalized the $590mn purchase of North Sea focused Canadian firm Ithaca Energy.

Last year Ithaca produced 9,310 barrels of oil equivalent per day (boe/d), 92% of which was oil, but this year it is forecast to produce 18-19,000 boe/d (80% oil, 20% gas), following the start-up of its Stella field in the North Sea.

Delek also announced the merger of its two...