Island Oil sells its Dutch assets to Delta Hydrocarbons to create €16m in fresh capital

ISLAND OIL has sold its Dutch oil assets to Delta Hydrocarbons BV for $25m (€16.1m).

The deal covers the entire issued share capital of Island Netherlands BV (INBV).

The business being sold includes INBV’s 83.33% interest in the production licence, which contains the undeveloped Amstel Oil Field, and its 100% interest in the recently awarded Q13b Exploration Licence.