Ithaca have built a diverse and high value portfolio of operated and non-operated assets across the Northern, Central and Southern North Sea and West of Shetland.

With stakes in six of the ten largest fields in the UK North Sea and two of the largest undeveloped discoveries, Ithaca Energy plays a significant role in meeting the current and future energy needs of the UK.

Ithaca's UK North Sea portfolio consists of 28 producing field interests, which predominantly lie in the Northern and Central North Sea, Moray Firth and West of Shetland area of the UKCS.

The Group operates nine producing fields, contributing 51.4% of total production, and has a strong track record of value creation through delivering efficiency improvements.

Ithaca Energy has a strong pipeline of organic greenfield and brownfield growth opportunities, and as operator of the majority of its 2P reserves and 2C resources, has significant control and flexibility over execution of the Group’s strategic, operational and financial priorities.

In October 2024, Eni announced the completion of the combination of substantially all of its upstream assets in the UK, excluding East Irish Sea assets and CCUS activities with Ithaca Energy.

Operated assets

Ithaca Energy has a solid and diversified producing asset portfolio, generating significant free cashflow, and material upside potential from an attractive pipeline of greenfield development opportunities. The Company's operated assets are located in the Northern, Central and Southern North Sea, West of Shetland and Moray Firth areas of the UK Continental Shelf.

Alba field

The Alba field lies about 130 miles (210 km) north-east of Aberdeen, Scotland, in the UK Central North Sea, in water depths of approximately 453 feet (138 m).

Discovered in 1984 in Block 16/26, Alba is a heavy oil field and was one of the first shallow Eocene reservoirs to be successfully developed in the North Sea. First oil was achieved in January 1994.

The field facilities include a fixed steel platform, the Alba Northern Platform, and a Floating Storage Unit (FSU), the first to be purpose-built for the UK sector of the North Sea. The field was further developed in 2001 through the addition of the Alba Extreme South subsea production centre.

Alba crude oil is offloaded from the stern of the FSU to a shuttle tanker before being transported to refineries in northwest Europe. Alba gas is used for fuel and the platform is also connected by a gas line to the Britannia platform in which Ithaca Energy (UK) Limited holds a 32.38 percent non-operated working interest, via a 2.5 mile (4 km) pipeline linking the two facilities.

As an ultra-late life asset, Ithaca Energy continues to mature its integrated ultra-late life and decommissioning plan for the asset.

Alba is operated by Ithaca Oil and Gas Limited (36.67 percent) with Waldorf Production (25.68%), NEO Energy (17%), Spirit Energy (12.65%) and EnQuest (8%) holding non-operated working interests in the field.

Alder field

Alder is a HPHT gas field tied-back to Britannia via an advanced 17-mile (28 km) subsea pipeline and a single producing well. The Alder field has been online since 2016 and is operated by Ithaca Energy (UK) Limited (73.68 percent); Harbour Energy holds a 26.32 percent non-operated working interest in the field.

Cambo field 

The Cambo field is the second largest undeveloped oil and gas discovery in the UK North Sea, located in the West of Shetland region. The Cambo field is located approximately 80 miles west of the Shetland Islands, approximately 20 miles south from Rosebank, and approximately 20 miles north from Schiehallion. Discovered in 2002, the field is a large basement high with sedimentary sequences atop the structure and sits on the Corona Ridge structural feature. Ithaca Energy holds a 100.0% operated interest in the field, acquired through its acquisition of Siccar Point Energy in June 2022, and through the acquisition of the remaining 30.0% interest from with Shell completed in November 2023. The acquisition of the remaining stake provides Ithaca Energy will full control over the progression and timing of the future development of Cambo.

Cambo will be developed using a purpose-built Sevan FPSO. Modern equipment designed to operate without the need for routine flaring or venting of hydrocarbons will be used to reduce emissions. When production commences, the field is expected to produce less than half of the amount of CO2 for each barrel produced than the average UK field. The development will be built electrification-ready.

Captain field

The Captain field lies approximately 90 miles (145 km) north-east of Aberdeen, Scotland, in the Outer Moray Firth, in water depths of around 346 feet (105.5 m).

Discovered in 1977 in Block 13/22a, the Captain field achieved first production in March 1997, thanks to key technology developments in horizontal drilling and down-hole pumps in well bores.

The field includes a wellhead protector platform and bridge linked platform connected to a floating production, storage and offloading (FPSO) vessel and two subsea manifolds tied back and connected to the platforms by a suite of pipelines.

Captain crude oil is offloaded from the FPSO offloading vessel to a dynamically positioned shuttle tanker and transported to customers. Captain gas is exported (and imported) via subsea pipeline to the Frigg UK Gas Transportation System and then on to St Fergus gas terminal.

Ithaca Energy continues to implement projects designed to sustain production and increase recovery at Captain. This includes active platform and subsea well in-fill drilling and completion programmes targeting key areas of the reservoir. Continued development drilling is expected through the next decade.

Enhanced Oil Recovery
A key project designed to increase recovery at the field is the Captain Enhanced Oil Recovery (EOR) project. As the most advanced polymerised water injection project in the UK North Sea, Ithaca Energy is using this innovative EOR technology to breathe new life into the billion-barrel field.

Polymer EOR has been trialled at the Captain field since 2010 to assess its potential and develop the best approach to any future deployment. This approach enabled plans to be to fine-tuned prior to progressing the project post sanction in September 2017.

The brownfield expansion has centred on the existing Captain infrastructure, located in a segment of the field supported by the existing platforms, known as Area A. The scope includes polymer injection in up to six long-reach horizontal wells, several brownfield work scopes, and the bulk provision of polymer designed for the specific reservoir conditions at Captain.

Learnings from this first stage were used to inform the decision for stage 2 which involves the expansion of EOR into the subsea areas of the field.

Captain EOR Phase Il
Building upon the success of EOR Phase I, the second phase of the EOR programme reflects an expansion of the platform-based EOR Phase I project to a focus on the subsea area in the Phase II development.

Sanctioned in April 2021, this phase aims to significantly BOOST production at the field, doubling net production to approximately 30 kboe/d and reaching peak production in 2026.

Cutting-edge polymer technology, pioneered by the Group in the UK North Sea, enhances reservoir sweep efficiency by injecting a water-soluble polymer into the reservoir. This polymer effectively sweeps previously bypassed and stranded oil, directing it toward adjacent production wells. By accelerating and maximising field life recovery, polymer technology provides significant decarbonisation benefits, with the potential to reduce carbon intensity by up to an estimated 40%.

The project was executed on time and within budget with first Phase II polymer injection achieved in May 2024.

Maximising economic recovery
Captain EOR is a prime example of how technology can help increase the economic viability of smaller and more complex fields, develop more cost-effective solutions and better use data to drive improved decision making.

Captain is operated by Ithaca Energy (UK) Limited (85 percent); Dana Petroleum (E&P) Limited holds a 15 percent non-operated working interest in the field.

Cook field

The Cook field lies approximately 105 miles (170 km) north-east of Aberdeen, Scotland, in the UK Central North Sea, in water depths of approximately 301 feet (92 m).

Discovered in 1983, in Block 21/20a, the Cook field is an oil and gas condensate field. First oil from the field was achieved in April 2000.

Field development
The Cook field development consists of one production well and one water injection well tied back approximately 10 kilometres to the Anasuria Operating Company operated 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.

Cook is operated by Ithaca Energy (UK) Limited (61.345 percent) with Ping Petroleum (19.327 percent), and Hibiscus Petroleum (19.327 percent) holding non-operated interests in the field.

Cygnus field

The Cygnus field is the single largest producing gas field in the UK making the fields production a key contributor to UK energy security. The field is located in the Southern North Sea in blocks 44/11a and 44/12a in water depths in the range of 15 to 25 meters.

The Cygnus infrastructure consists of three bridge-linked Alpha platforms, including a wellhead drilling centre (AWHP), a processing/utilities unit (APU) and the living quarters/central control room (AQU).

The Cygnus Bravo, an unmanned satellite platform, is approximately seven kilometres northwest of Cygnus Alpha.

Cygnus connects via the Esmond Transmission System (ETS) pipeline to the Perenco operated terminal at Bacton. Cygnus gas is blended with a high Wobbe Index gas in Bacton to achieve National Grid entry specification.

First gas from Cygnus was achieved in 2016 from Cygnus Alpha and 2017 from Cygnus Bravo. Two new development wells were brought onstream in 2023, supporting near term production. Gas compression commenced in 2022.

Erskine field

The Erskine field lies approximately 150 miles (241 km) north-east of Aberdeen, Scotland, in the Central North Sea, in water depths of about 296 feet (90 m).

Discovered in 1981 in Block 23/26, Erskine is a gas condensate field. It was the first high-pressure, high-temperature field to be developed in the UK Continental Shelf. First production was achieved in November 1997.

The field includes a normally unattended installation and is remotely controlled from Harbour’s Lomond platform. An 18.6 mile (30 km) pipeline links the two facilities.

Processing takes place in a dedicated module on the Lomond platform. Gas and condensate are exported separately to Harbour’s North Everest platform before gas is finally exported via the Central Area Transmission System and condensate is exported through the Forties Pipeline System.

Erskine is operated by Ithaca Energy (UK) Limited (50 percent) with Harbour Energy (32.0 percent), and Serica Energy (UK) Limited (18 percent) holding non-operated interests in the field.

Greater Stella Area

The Ithaca Energy operated Greater Stella Area is located in the heart of the Central Graben area of the Central North Sea, on the UK Continental Shelf. It is an area surrounded by various large producing fields, predominantly operated by the Majors, and numerous undeveloped discoveries.

The Greater Stella Area licences contain the Stella and Harrier fields, both of which are in production, and the Vorlich field, which is currently in the process of being developed. The Company also owns operated interests in a number of satellite fields that are planned for development via the hub infrastructure, being the Hurricane, Austen and Courageous discoveries.

The Company's focus on the Greater Stella Area is driven by monetisation of over 60 million barrels of oil equivalent of net proven and probable reserves (as independently assessed by Sproule International Limited) and the generation of additional value via the wider opportunities provided by the range of undeveloped discoveries surrounding the production hub.

Development overview
Production commenced from the Stella field in early 2017 and from Harrier in 2018. The development involved the drilling of subsea wells tied back to the Ithaca Energy owned and operated “FPF-1” floating production facility, with the onward export of oil into the ConocoPhillips-operated “Norpipe” system and gas into the Kellas Midstream-operated “CATS” system. Development of the Vorlich Field is ongoing following formal approval of the Field Development Plan which was granted in September 2018. Vorlich is being jointly developed with BP.

Stella field
The Stella field lies approximately 158 miles (255 km) East of Aberdeen, Scotland, in the Central Graben Area of the Central North Sea in water depths of about 295 feet (90 m)

Discovered in 1979 in Block 30/6-2, the Stella field comprises the Stella Andrew sandstone reservoir containing light oil and rich gas condensate and the Stella Ekofisk reservoir containing a volatile oil.

Since the discovery well, seven subsequent appraisal reservoir penetrations were made on Stella including the final appraisal wells drilled by Ithaca in 2010.

Five development wells were drilled between 2013 and 2015 to allow production from both reservoirs to commence.

Ithaca Energy holds a 100 percent interest in the Stella field.

Harrier field
The Harrier field lies approximately 158 miles (255 km) East of Aberdeen, Scotland, in the Central Graben Area of the Central North Sea in water depths of about 295 feet (90 m).

Discovered in 2003 in Block 30/6-4, the field comprises the Harrier Ekofisk and Harrier Tor chalk reservoirs, both containing gas condensate.

Ithaca Energy drilled a dual lateral fracture stimulated multilateral development well in 2018 to access both the Harrier Tor and Ekofisk reservoir intervals to enable production from the field to start up in mid-2018.

Ithaca Energy holds a 100 percent interest in the Harrier field.

Stella and Harrier are about 7 km apart, but equidistant from Aberdeen.

Vorlich field
The Vorlich field lies approximately 88 miles (241 km) east of Aberdeen, Scotland in the Central North Sea in water depths of about 262 feet (80 m).

Discovered and appraised in 2014 in Block 30/1c and jointly developed with BP, first production from the field was in November 2020.

The Vorlich field contains hydrocarbons in a Palaeocene sandstone reservoir and production is via 2 wells tied back to the FPF-1 floating production facility, which lies at the centre of the Greater Stella Area production hub.

Ithaca holds a 34% working interest in the Vorlich field (its partner, BP holds a 66% working interest).

Non-operated assets

Ithaca Energy's portfolio includes a variety of non-operated assets in the UKCS.

Britannia and satellites

The Britannia field lies approximately 130 miles (210km) northeast of Aberdeen, Scotland, in the UK Central North Sea, in water depths of approximately 480 feet (146m). The Britannia field is operated by Harbour Energy (58.65%), with Ithaca Energy owning a 32.38% non-operated working interest in the field alongside NEO Energy 8.97%.

Discovered in 1975 and extending across Blocks 15/29a, 15/30a, 16/26a, 16/27a and 16/27b, Britannia was one of the largest natural gas and condensate fields in the North Sea when first production was achieved in 1998. The field includes a drilling, production and accommodation platform and a bridge linked platform at its eastern end.

Britannia condensate is delivered through the Forties Pipeline System to the oil stabilisation and processing plant, Kerse of Kinneil, near the Grangemouth Refinery in Scotland. Britannia gas is transported through a dedicated Britannia Gas Pipeline to the Scottish Area Gas Evacuation facility at St. Fergus, Scotland. The Brodgar, Callanish, Enochdhu and Finlaggan fields have been developed as satellites of the Britannia field. The Ithaca Energy operated Alder development is also a satellite of the Britannia field. Production started at Alder in November 2016.

Brodgar

The Brodgar gas condensate field lies 89 miles (143km) north-east of Aberdeen, Scotland, in the UK Central North Sea, in water depths of about 460 feet (140m). Brodgar is operated by Harbour Energy (93.75%), with Ithaca Energy owning a 6.25% non-operated working interest in the field. The field has been developed as a subsea satellite of the Britannia field in Block 21/3a. First production from Brodgar was achieved in 2008.

Broom

The Broom oil field is located in Block 2/4a and lies approximately 310 miles (500km) from Aberdeen, Scotland, in the Northern North Sea area of the UK Continental Shelf, in water depths of approximately 485 feet (147m). The field is operated by EnQuest (63%), with Ithaca Energy (8%) and MOL (29%) owning a non-operated working interest.

The Broom field moved into the decommissioning phase with the cassation of production of the host Heather platform in 2020. Ithaca Energy are working with the field operator to plan and execute the safe abandonment of the facilities and wells.

Callanish

The Callanish oil field lies 98 miles (158km) north-east of Aberdeen, Scotland, in the UK Central North Sea, in water depths of about 490 feet (150 metres). Callanish is operated by Harbour Energy (85.5%), with Ithaca Energy owning a 16.5% non-operated working interest in the field. The field has been developed as a subsea satellite of the Britannia field in Blocks 15/29a and 21/4a. First production from Callanish was achieved in 2008.

Dons

The Dons area consists of the Don Southwest, West Don, Conrie and Ythan oil fields. The fields are located in the Northern North Sea area of the UK Continental Shelf, approximately 150km northeast of the Shetland Islands, in water depths of approximately 558 feet (170m). The fields are operated by Enquest with Ithaca Energy a non-operated partner. The fields are in the decommissioning phase with the safe removal of the Northern producer platform and subsea equipment achieved in 2021/22 and the abandonment of the wells as the final activity remaining in the field.

Elgin-Franklin

Elgin-Franklin field is a series of High Pressure, High Temperature gas-condensate reservoirs and is located in the UK Central North Sea, 130 miles east of Aberdeen. The fields are operated by TotalEnergies (46.2%) with Ithaca Energy (28.0%), Harbour Energy (19.3%), NEO Energy (4.4%) and ONE-Dyas (2.2%) holding non-operated interests. Ithaca Energy’s interest was increased from 3.9% to 6.1% through its acquisition of Summit E&P in June 2022 and by a further 21.9% through the Business Combination with Eni UK.

The Elgin and Franklin fields commenced production in 2001.

Enochdhu

The Enochdhu oil field lies 100 miles (160km) northeast of Aberdeen, Scotland, in the UK Central North Sea, in water depths of approximately 460 feet (140m). The field has been developed as a single subsea well in Block 21/5a and tied back via pipeline to the nearby Callanish subsea manifold and onwards to the Britannia field facilities. Enochdhu achieved first production in June 2015. The field is operated by Chrysaor Limited (50%), with Ithaca Energy owning a 50% non-operated working interest

J Area

Jade
Jade lies approximately 240-kilometres south east of Aberdeen in Block 30/2c and 30/7b in water depths of approximately 260 ft. It is a high-pressure/high-temperature (HP/HT) development, which consists of a normally unmanned installation (NUI) tied back via a subsea pipeline to the Judy facility from where all operations are controlled. Hydrocarbons from Jade were first discovered in 1996 and began production in 2022. Production from Jade is processed and exported through Judy.

Partners: Harbour Energy (67.50%, operator), Eni UK, a subsidiary of Ithaca Energy plc (7.00%), Ithaca Energy (25.50%)

Judy
Judy and Joanne are in Block 30/7a, 30/7d and 30/12a (often referred to collectively as J Block) in the UK central North Sea approximately 240-kilometres south-east of Aberdeen. They sit in Quadrant 30 of the J-Area with overlapping reservoirs. Judy is a manned platform with accommodation, production, processing and gas injection equipment. Joanne is a subsea manifold with six subsea wells tied back to Judy. First production in the Judy field occurred in 1995. After being processed on Judy, gas is transported through the CATS Pipeline and liquids are transported through the Norpipe system to Teesside.

Partners: Harbour Energy (67.00%, operator)), Eni UK, a subsidiary of Ithaca Energy plc (33.00%)

Jasmine
Jasmine is a gas condensate field located in Blocks 30/6a and 30/7a of the UK central North Sea approximately 255 kilometres south east of Aberdeen. Jamsine is the fourth development in the J-Area after Judy, Joanne and Jade. The development consists of a 24-slot wellhead platform (WHP) with bridge-linked accommodation and achieved first production in 2013. The Jasmine WHP is tied back to the Judy platform to the east via an 8-kilometre pipeline and a riser platform at Judy. Production from Jasmine is processed and exported through Judy.

Partners: Harbour Energy (67.00%, operator), Eni UK, a subsidiary of Ithaca Energy plc (33.00%)

Talbot field development
The Talbot field lies within Blocks 30/12a and 30/13e, in the central North Sea, south east of the Joanne field and in water depths of approximately 245ft.

The light-oil and associated gas field was discovered in 1970 and following Regulator consent for the project, first development drilling operations commenced in 2023 with the remaining well to be drilled in 2024 along with topsides and subsea work leading up to first production, which is expected in 2024.

The development comprises a subsea drilling template and manifold with associated infrastructure and a pipeline connecting the Talbot field subsea facilities to the Judy platform. The Judy platform is located approximately 16 kilometres to the north of the Talbot field. Hydrocarbons produced from the Talbot field will be processed on the Judy platform before being transported back to the UK mainland at Teesside.

Partners: Harbour Energy (67%, operator), Eni UK, a subsidiary of Ithaca Energy plc (33.00%)

Mariner

The Mariner field including Cadet and Mariner East is located approximately 100 miles east of the Shetland Islands. The Mariner field came onstream on 15 August 2019. The field is operated by Equinor (65.1%) with NEO Energy (20.0%), ONE-Dyas (6.0%) and Ithaca Energy holding 8.9% non-operated interest. Ithaca Energy acquired its interest through its acquisition of Siccar Point Energy in June 2022.

The Mariner field consists of a production, drilling and living quarters (PDQ) platform based on a steel jacket and a floating oil storage unit (FSU). The field currently produces mainly from the Maureen reservoir with production from the larger and heavier Heimdal reservoir only starting in 2021. Given the large volumes of oil remaining in place there is an extensive multiyear drilling program on the asset to improve recovery from all reservoirs.Polymer flooding trials are proposed on the asset to further increase recovery.

MonArb 

The MonArb area is located in the Central North Sea roughly 128 miles east of Aberdeen. The area consists of nine producing fields covering blocks 22/17n, 22/17s, 22/18n, 22/18a, 22/22a, 22/23a, with production coming from Palaeocene Forties and Upper Jurassic Fulmar sandstone formations. Production is exported via the Forties Pipeline System to Cruden Bay, north of Aberdeen, with gas exported via the CATS pipeline to the CATS terminal at Teeside for processing.

Three platforms in the MonArb area operated by Repsol Sinopec at a water depth of 90m include Montrose Alpha commissioned in 1976, the Arbroath Platform commissioned in 1990, and the Montrose Alpha BLP commissioned in 2017. First production from the area was in 1976 from the Montrose fields, with subsequent production coming from Arbroath (1990), Arkwright (1996), Brechin (2005), Wood (2007), Godwin (2015), Cayley (2017) and Shaw (2017). The MonArb area benefitted from a £2 billion redevelopment project (and step-change in performance) that was completed in 2017.

Ithaca entered the MonArb area through the acquisition of Mauribeni’s interested in 2022. Continued development of the MonArb area is now premised with the addition of wells to maximize field recovery.

Pierce

The Shell operated Pierce oil field is located in Block 23/22a and lies 165 miles (265km) East of Aberdeen, Scotland, in the Central North Sea area of the UK Continental Shelf, in water depths of approximately 262 feet (85m).

The field was discovered in 1975, with first oil achieved in February 1999. Ithaca Energy acquired its 7.48% non-operated working interest in the Pierce field from Sumitomo Corporation in July 2014.

Rosebank

The Rosebank field is located approximately 80 miles north-west of the Shetland Islands. The field was discovered in 2004 and has since been appraised with five wells. The field is operated by Equinor (80.0%) with Ithaca Energy holding a 20% non-operated interest. Ithaca Energy’s interest was acquired through its acquisition of Siccar Point Energy in June 2022.

Ithaca Energy, together with Equinor, announced on 27 September 2023 that they have taken the final investment decision to progress Phase 1 of the Rosebank development on the UK Continental Shelf, together investing $3.8 billion in the development with the North Sea Transition Authority (NSTA”) granting consent for the development of the field..

The Rosebank field has recoverable resources estimated at around 300 million barrels of oil from phase 1 and 2, with Phase 1 targeting an estimated 245 million barrels of oil. The field will be developed with subsea wells tied back to a redeployed Floating Production Storage and Offloading vessel (FPSO), with first production expected in 2026-2027. The Rosebank field will produce in excess of 21 MMSCF of natural gas every day, the equivalent to the daily use of Aberdeen City.

The Rosebank development has been optimised to reduce carbon emissions, in line with the North Sea Transition Deal, with the FPSO designed to be electrification-ready. Ithaca Energy and Equinor continue to collaborate with government and industry stakeholders to pursue a regional solution for power from shore to Rosebank and nearby fields with the objective of minimising carbon emissions from production.

The Rosebank development is expected to lead to £8.1 billion of total direct investment, of which 78% is likely to be invested in UK-based businesses. It is expected to support around 1,600 jobs during the height of the construction phase of the project, and it will continue to support approx. 450 UK-based jobs during the lifetime of the field.

Schiehallion

The Schiehallion field is located approximately 90 miles west of the Shetland Islands. It was discovered in 1993 with first production in 1998. Schiehallion is operated by BP (33.3%) with Shell (44.9%), Harbour Energy (10.0%) and Ithaca Energy (11.8%) holding non-operated interests. Ithaca Energy acquired its interest through its acquisition of Siccar Point Energy in June 2022.

The Schiehallion reservoir comprises excellent quality stacked Tertiary sands deposited by deep water gravity flows. The use of 4D seismic technologies has enabled better understanding of the field and as a result, the expected ultimate recoverable reserves have substantially increased from 340 million barrels in the original field development plan to over 850 million barrels, with over 450 million barrels of remaining recoverable oil reserves.

In 2011, the Schiehallion co-venturers sanctioned field redevelopment to unlock remaining reserves and extend the life of the field as part of BP’s Quad 204 project. A purpose-built harsh water FPSO, the Glen Lyon, replaced the old Schiehallion FPSO and much of the subsea infrastructure was also replaced. The field resumed production in May 2017. As well as re-using the existing well stock of 44 producers and injectors, an ongoing multi-year drilling programme will add new wells to the field.

Seagull

Seagull was developed by Eni Energy UK as a subsea tieback to the bp-operated central processing facility (CPF) of the Eastern Trough Area Project (ETAP) in the central North Sea, around 140 miles east of Aberdeen.

With first production achieved in November 2023, Seagull is the first tieback to the ETAP hub in 20 years. Seagull is a high pressure, high temperature (HPHT) filed located 10 miles south of the ETAP CPF and is a four-well development. Production is delivered via a new three-mile subsea pipeline which connects to an existing pipeline system. A new 10-mile umbilical has been installed, linking the ETAP CPF to the Seagull field, providing control, power and communications services between surface and seafloor.

Gas from the development will come onshore at the CATS processing terminal at Teesside, while oil will come onshore through the Forties Pipeline System to the Kinneil Terminal at Grangemouth.

Partners: bp (50%, operator)), Eni UK, a subsidiary of Ithaca Energy plc (35%), Japex (15%)

Production

Production in 2023 averaged 70.2 kboe/d (2022: 71.4 kboe/d), closing the year towards the mid-point of the Ithaca's 68-74 kboe/d production guidance range. Production was split 66% liquids and 34% gas with the Group’s operated assets accounting for 51% of total 2023 production. 

Leadership

Yaniv Friedman Executive Chairman
Luciano Vasques Chief Executive Officer
Iain Lewis Chief Financial Officer
Julie McAteer General Counsel and Company Secretary
Odin Estensen Chief Operating Officer
Michele Lucifora EVP Technical
Alessandro Barberis EVP Exploration
Simon Taylor EVP Health, Safety and Environment
Ross Mitchell EVP Business Development & Commercial
Janice Doyle EVP People and Culture

Head office

Ithaca Energy (UK) Limited
Hill of Rubislaw, Aberdeen, AB15 6XL, United Kingdom

Tel: +44 (0)1224 334 000

KeyFacts Energy: Ithaca Energy UK country profile