History

X

Ithaca is an established and dynamic North Sea oil and gas operator.

The Company has significant experience of originating and executing appraisal and development projects; unlocking value through the monetisation of reserves. Ithaca has also established a strong track record for delivering innovative commercial transactions and acquisitions.
 

2008
Acquisition of the Beatrice oil field from Talisman

In return for a one-off lease payment, Ithaca acquired the Beatrice oil field and associated offshore facilities and Nigg oil terminal in November 2008. The cost and responsibility for decommissioning of the facilities remains with Talisman.

false
0
2009
First oil from the Ithaca operated Jacky field development

Following the drilling of a successful appraisal well in 2007, the Jacky oil field was put into production in April 2009. This was the first development project executed by the Company. 

false
15
2009
Re-start of production from Beatrice “Bravo”

Following the acquisition of the Beatrice field in November 2008, Ithaca successfully completed a brownfield development project to reinstate production from the Bravo platform in April 2009. 

true
20
2010
Successful appraisal of the Stella field

A successful appraisal well on the Stella discovery was drilled and tested by Ithaca in Q2-2010.  The reserves proved up by the well enabled the development of the Stella and Harrier fields to be launched.

false
30
2010
Acquisition of Anglia and Topaz field interests from GDF Suez

Ithaca acquired its operated interest in the Anglia gas field and a non-operated interest in the Topaz gas field from GDF Suez in August 2010.

true
40
2011
Acquisition of Cook field interest from Hess

Ithaca acquired an interest in the Shell operated Cook field in April 2011.  The field, which has been in production since April 2000, is located in the Central North Sea sector of the UK Continental Shelf

false
45
2011
Acquisition of Challenger Minerals from Transocean

Through the acquisition Ithaca increased its interests in the Stella and Harrier fields, obtained a non-operated interest in the producing Broom oil field and access to additional undeveloped Central North Sea discoveries.

true
52
2012
DECC approval of the joint development of the Stella and Harrier fields

Development of the fields, which form the base of the Ithaca operated “Greater Stella Area” production hub, is currently on-going in the UK Central North Sea.

false
60
2012
First Oil from the Athena Field

First oil  from Athena in May 2012 marked the third development project completed by Ithaca. The field produced via subsea wells tied back to a leased floating production, storage and offloading vessel, the “BW Athena”.

true
65
2012
Acquisition of additional Cook field interest from Noble Energy

Ithaca acquired an additional interest in the Cook field from Noble Energy in October 2012, taking its overall interest in the Shell operated field to 41.345%.

true
70
2012
Successful appraisal of the Hurricane discovery

The Ithaca operated Hurricane discovery lies approximately 10 kilometres from the Company’s Greater Stella Area production hub and represents the first potential feeder field for the hub.

true
73
2013
Acquisition of Valiant Petroleum plc

The acquisition of Valiant delivered a significant increase in Ithaca’s existing UK production and reserves through the addition of interests in four fields in the Northern North Sea.

false
75
2014
Producing asset portfolio expansion

Ithaca acquired interests in three UK producing oil fields from Sumitomo Corporation in July 2014.

false
90