Ithaca Energy, of Aberdeen, has taken a step toward developing a field in the central North Sea.
Greater Stella Area
Energy services firm Petrofac said it was “well positioned” for the remainder of 2019, but warned of a drop in revenues ahead.
A Petrofac boss claimed “this year will be better than last year” for the company after it posted bumper profits yesterday.
Petrofac has agreed to sell off its stake in the Greater Stella Area (GSA) project in the North Sea to Ithaca for up to £228million.
Two major new milestones for the beleaguered UK North Sea oil and gas industry have highlighted resilience in the face of a downturn.
Bosses at Ithaca Energy said it would be “business as usual” for the North Sea oil producer following its anticipated takeover by Israeli firm Delek Group.
An investor in Ithaca said it “strongly urges” shareholders to reject a takeover offer from Israeli firm Delek Group.
The boss at Ithaca Energy said today he was frustrated by a delay to first oil from the flagship Greater Stella Area in the North Sea.
Ithaca Energy (LON:IAE) said today that its operating costs would drop to $20 a barrel following first oil from its North Sea Stella field.
Ithaca Energy has extended its position in the Greater Stella Area (GSA) with four agreements entered into for the acquisition of additional interests in two discoveries.