Profits dropped at Delek Group last year despite a strong showing from its North Sea business, Ithaca Energy.
Ithaca Energy is just weeks away from achieving first oil on its landmark North Sea development.
Ithaca Energy said its FPF-1 floating production facility has completed its required inclination test and departed from the Remontowa shipyard in Poland.
Ithaca Energy today confirmed its floating production facility (FPF-1) was only two weeks away from heading to its location on the North Sea’s Greater Stella Area Development.
Ithaca Energy has secured access to a major oil export pipeline allowing it to transport future production from its Greater Stella Area development project in the UK North Sea, at a cost of around $20million, with first production slated by September.
Ithaca today confirmed the start-up of its Greater Stella Development would be delayed until the third quarter of this year.
Ithaca Energy has chipped away at its record high debt while posting strong third quarter results.
Ithaca Energy is busy getting its finances in order as it zeroes in on first oil from its Greater Stella project.
Ithaca posted an average of 12,300 barrels of oil equivalent per day (boepd) for the third quarter of this year.
Ithaca Energy has modified its Greater Stella deal with Petrofac in a bid to hit its sail-away target.