Producing Assets

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Ithaca has a solid and diversified producing asset portfolio generating significant free cashflow, mainly from oil production.

The producing fields, which are a mix of operated and non-operated assets, are located across the Northern, Central and Southern North Sea and Moray Firth areas of the UK Continental Shelf.

The company also has an interest in the Wytch Farm Field located in Southern England (on/offshore oil field).

Block
License
 
Dons - Northern Producer Floating Production Facility

The EnQuest operated Dons area consists of the Don Southwest, West Don and Conrie oil fields.  The fields are located in the Northern North Sea area of the UK Continental Shelf, approximately 150km northeast of the Shetland Islands.

Ithaca acquired its interests in the fields through the acquisition of the UK-listed company Valiant Petroleum plc in April 2013.

The Don Southwest field is a re-development of part of the former Don field that was discovered in 1976 by Burmah and put into production by BP in 1993.  BP ceased producing from the field in 2001, following which it was re-developed by EnQuest’s predecessor company, Petrofac.  First oil from the re-development was achieved in 2009.
 
West Don was discovered in 1976, also by Burmah.  The discovery was put into production as part of the Don Southwest re-development, with first oil also achieved in 2009.

The Conrie field was discovered by EnQuest in January 2011, with first oil achieved in the same year.  The field has been developed by one subsea production well, which is now operated on a “swing” basis as reservoir pressures permit.

All the fields produce from the Brent reservoir sequence sandstones. 

Field Development
The Don Southwest and West Don field developments consist of subsea production wells, supported by water injectors.  The wells are tied back to the “Northern Producer” floating production facility, from which oil is exported via the EnQuest operated Thistle platform and onwards through the Brent System pipeline to the BP operated Sullom Voe oil terminal in the Shetland Islands.

Oil Field
Don Southwest - 40% Working Interest, West Don - 17.275% Working Interest
Don Southwest - EnQuest (60%), West Don - EnQuest (78.6%) & Ithaca (21.4%)
Block 211/18a B
License P.236
 

The Ithaca operated Causeway Area consists of the Causeway and Fionn oil fields located in the Northern North Sea area of the UK Continental Shelf, approximately 150km East of the Shetland Islands.

Ithaca acquired its interests in the fields through the acquisition of the UK-listed company Valiant Petroleum plc in April 2013.

The Causeway field was discovered in 1992 by Amerada Hess.  Further appraisal drilling was completed by Antrim Energy during 2006 to 2008, during which campaign the adjacent Fionn field was identified.  Like most of the surrounding fields in the area, Causeway and Fionn produce from the Brent sandstone sequence.

The Causeway field development was sanctioned by the UK Department of Energy and Climate Change (DECC) in 2011 and first oil was achieved in Q4-2012.  The Fionn field development was approved by the DECC in August 2012 and tied in to the existing Causeway infrastructure in mid-2013.

Field Development
The Causeway field development consists of a production and water injection well tied back approximately 16km to the Taqa operated North Cormorant platform.  From the platform, oil is exported through the Brent System pipeline to the BP operated Sullom Voe oil terminal in the Shetland Islands.

The Causeway field is currently being produced on “free flow”.  Electrical submersible pumps (ESPs) are installed in the well and work is on-going by Taqa to complete the necessary North Cormorant platform modifications to enable start-up of the ESPs.  Work is also on-going on platform modification to enable the commencement of water injection on the field.  The water injection well itself has been drilled and completed.

The Fionn field development consists of one production well that is tied back approximately 3km to the Causeway pipeline to North Cormorant.  ESPs have been installed in the well and the platform modifications that are required to enable start-up of the ESPs are in the process of being completed by Taqa alongside the corresponding Causeway work programme.

A sidetrack of the Fionn well is scheduled for late 2013.  Flow tests performed on the well have shown that it has the potential to produce at considerably better rates if sidetracked to a more optimal location; the well is a re-completed appraisal well.

Oil Field
Causeway - 64.5% Working Interest, Fionn - 100% Working Interest
Zennor Petroleum (35.5%)
Block 211/23d, 211/22a B
License P.1383, P.201
 

The EnQuest operated Broom oil field is located in the Northern North Sea area of the UK Continental Shelf.

Ithaca acquired its non-operated interest in the Broom field via its acquisition of Challenger Minerals (North Sea) Limited from Transocean Drilling UK Limited in October 2011. Importantly the acquisition also resulted in Ithaca increasing its interests in the Stella and Harrier fields, as well as giving access to additional UK Central and Northern North Sea undeveloped discoveries.

Production from the Broom field commenced in August 2004 targeting two oil accumulations, West Heather and the North Terrace.

Field Development
The field development consists of six subsea wells, four gas lifted production wells and two water injectors.  Production is transported for processing approximately 7km to the EnQuest operated Heather platform, from where oil is exported through the Ninian pipeline system to the BP operated Sullom Voe oil terminal in the Shetland Islands.

Oil Field
8% Working Interest
EnQuest (63%) & MOL (29%)
Block 2/4a
License P.902
 
Anasuria Floating Production, Storage and Offloading Vessel - Host Facility for the Cook Field

The Shell operated Cook field is located in Block 21/20a in the Central North Sea area of the UK Continental Shelf.

The field was discovered in 1983 by Amoco, with well 21/20a-2. First oil was achieved in April 2000. Ithaca acquired its interest in the Cook field via two acquisitions. In April 2011 the Company acquired a 28.46% interest from Hess.

A further 12.885% interest was acquired from a subsidiary of Noble Energy Inc. in October 2012 and an additional 20% interest from Sumitomo Corporation in June 2014, taking Ithaca’s overall interest in the field to 61.345%.

Field Development
The Cook field development consists of one production well (on natural depletion) tied back approximately 10 kilometres to the Shell operated Anasuria floating production, storage and offloading (FPSO) vessel, which also serves as a host facility for a number of nearby fields.

Stabilised crude oil is exported from the FPSO to market via shuttle tankers. Gas is exported via the Fulmar pipeline to the Shell operated gas terminal at St Fergus in the North East of Scotland.

Oil / Gas Condensate Field
61.345% Working Interest
Shell (25.77%) & Exxon (12.885%)
Block 21/20a
License P.185
 

The Shell operated Pierce field is located in Block 23/22a (AL) in the Central North Sea area of the UK Continental Shelf.

The field was discovered in 1975 , with first oil achieved in February 1999. Ithaca acquired its interest in the Pierce field from Sumitomo Corporation in July 2014.

Field Development
The field is developed by subsea wells tied into the Haewene Brim floating production, storage and offloading (FPS0) vessel. Oil is exported directly to market via shuttle tankers. All produced gas, other than that consumed for fuel and flare on the FPSO, is currently re-injected into the reservoir.

Oil Field
7.48% Working Interest
Shell (92.52%)
Block 23/22a
License P.111
 

The Ineos operated Topaz gas field is located in the Southern North Sea area of the UK Continental Shelf, approximately 145km from the UK coastline.

Ithaca acquired its 35% non-operated interest in the field from GDF Suez in August 2010, along with an operated interest in the Anglia gas field. The field was discovered in 1987 by Fina, with the well encountering gas bearing Carboniferous Westphalian and Ketch sands.

Production from the field commenced in November 2009.

Field Development
The Topaz field is produced via one subsea well tied back approximately 15km to the Tullow operated Schooner platform. The gas is exported from Schooner through the Caister Murdoch System (CMS) to the onshore Theddlethorpe gas terminal in Lincolnshire, UK.

Gas Field
35% Working Interest
Ineos (57.5%) & Faroe Petroleum (7.5%)
Block 49/1a, 49/2a
License P.1013
 

The Wytch Farm field, operated by Perenco, is located in offshore blocks 98/6a (All) and 98/7a (All) and onshore blocks SY/886 (All), SY/98a (All) and SZ/8a (All) in Dorset, England. The field was discovered in 1973 by British Gas Corporation, with first oil achieved in 1979.

Ithaca acquired its interest in in the Wytch Farm field from Sumitomo Corporation in July 2014.

Field Development
Both the onshore and offshore wells on the field have been drilled from twelve onshore pads (drill centres) located alongside the on-site processing facilities; with over sixty production wells and thirty water injection wells currently in operation. Oils is exported from the field via pipeline directly to the BP operated Hamble terminal.

Oil Field
7.43% Working Interest
Perenco (50.09%), Premier Oil (30.10%), Maesrk Oil (7.43%), Talisman Sinopec (4.95%)
Block 98/6a (All), 98/7a (All), SY/886 (All), SY/98a (All), SZ/8a (All)
License P.534, P.089