Ithaca Energy (LON: ITH) has paused its efforts to electrify assets in the West of Shetland, Energy Voice understands.
Ithaca Energy CEO Alan Bruce discusses the farm-out, work on the Cambo FID and why the UK should be a bit more Norway. . .
Analysts have revised their forecasts for Ithaca Energy following a string of cancelled investments and slow going on the development of major projects like Cambo.
Analysts have questioned the feasibility of electrifying major Central North Sea assets given the maturity of the area.
‘And John Lewis will come back into town…’: Ithaca boss talks up high street boost of Cambo and Rosebank
The chair of Ithaca Energy has talked up the economic benefits of backing the Cambo and Rosebank projects for local economies, including a potential high street resurgence.
“On Cambo, Shell has a 30% share and our understanding is they are progressing well - hopefully that sales process will end soon. That will allow us to continue the project towards FID.”
New analysis by WoodMackenzie sets out the “material opportunities” of the Rosebank and Cambo developments in terms of energy security, emissions and economics.
There's a hotting-up M&A market in the UK North Sea, including some of the largest players like Harbour Energy. We take a look at where deals are being made.
While it’s not a panacea - and may never actually kick into force - the windfall tax price floor could help with financing the $5bn of North Sea projects awaiting FID.
Aside from the giant Rosebank and Cambo oilfields - the former expected to be sanctioned this year - there’s a pair of smaller projects in the FID pipeline for Ithaca Energy (LON: ITH).
The UK regulator, North Sea Transition Authority, has held a meeting with operators in the region to develop 22 new energy projects that will deliver over a billion barrels.
Shell would not be drawn on a sailaway and start-up date for its next North Sea development, with the Penguins FPSO set to remain in Norway for several more months.
Shell has launched a six-month marketing process for its 30% stake in the Cambo oilfield in the West of Shetland.
Ithaca Energy (LON: ITH) is appealing to Westminster to overhaul its energy profits levy, warning that the future of a key oil and gas project could count on it.
Viaro Energy’s buying spree shows no sign of letting up, with the company in the final phases of a deal for more North Sea fields.
A host of major oil and gas projects dotted around the North Sea are due to start-up production in the next few years.
Production at the Pierce gas expansion project in the UK North Sea is now underway, Shell (LON: SHEL) has confirmed.
Cambo is positive, Rosebank is positive, says Romain Chambault of Baker Hughes, but Harbour Energy’s windfall tax announcement shows the price of poor policy.
A dozen key projects in the North Sea will deliver a “golden opportunity” for the UK supply chain in the coming years, according to new research.
There are only six big-spend projects expected for the UK North Sea and West of Shetland in the coming years, meaning limited opportunity for big players to benefit from windfall tax offsets.
SNP Westminster chief Stephen Flynn claimed the Cambo oil field near Shetland should not be ruled out if it can successfully meet key climate change targets.
Its more than a year since Shell (LON: SHEL) said it wouldn't invest in the Cambo oilfield, but as the project approaches a green light, the firm is weighing whether to stick or sell up its stake.
Investment decisions could be on the way for Perth, Bentley and Bressay in the North Sea, alongside West of Shetland giants.
Further North Sea oil and gas players are being tipped to up sticks next year as companies look to streamline their portfolios.