Ithaca Energy - Beatrice

In 2008 Ithaca entered into an agreement to lease the Beatrice oilfield, the pipeline to shore and the Nigg storage facility from Talisman for a minimum period of 3 years. The decommissioning obligations remain with the previous owners, Talisman. The Beatrice Field, in which Ithaca holds a 50% interest, is operated by Ithaca and is the largest oilfield (approximately 485 MMbbls of stock tank barrels of oil initially in place) in the Inner Moray Firth area.Beatrice has produced in excess of 163 MMbbls to date. At the time of completion of the lease agreement with Talisman, the Alpha platform wells of Beatrice were producing approximately 1,500 barrels of oil per day.

The onshore Nigg Oil Terminal processes and stores Beatrice area oil for shipment. The terminal has additional storage which Ithaca is utilising for production from Athena. In addition the terminal possesses a sheltered deep water jetty which is hired out for Ship to Ship oil transfer operations.

Since taking over the management and running of the Beatrice infrastructure, Ithaca has successfully installed the Jacky platform and tied back to the Beatrice Alpha platform. Production has also been reinstated from the Beatrice Bravo platform via a new flowline which connects into the Jacky-Alpha line.

Over the second half of 2009 Ithaca undertook a programme of well interventions on wells producing at the Bravo platform. The result of the Bravo workover campaign increased production from the Bravo facility by 1,500 bopd (750 bopd net to Ithaca). The Company has undertaken an extensive workover campaign on Alpha platform wells, which has involved the replacement of down hole equipment and the recompletion of 4 production wells.

Block(s)	Licence	Operator	Partner
11/30a	P87	Ithaca (50%)	Dyas (50%)

Beatrice