U.K. oil and gas company Ithaca Energy has signed a sale and purchase agreement with Spirit Energy, increasing its stake for 46.25% in the Cygnus gas field for $154 million.The transaction, which is subject to NSTA consent, will increase Ithaca Energy's operated interest in Cygnus field to 85%.Based on an effective date of January 1, 2025, the transaction is expected to add 23 mmboe of 2P reserves and pro forma production between 12…
Altrad’s recently acquired subsidiary Stork has secured a multi-year contract with Ithaca Energy for inspection services across its oil and gas assets off UK.The five-year contract, which started on March 1, 2025 will encompass the provision of inspection services for the topside pressure systems…
North Sea oil and gas group Ithaca Energy launched a restructuring process that it expects to lead to job cuts, it said on Wednesday.The process, which follows the completion of Ithaca's acquisition of Eni's UK assets, is expected to be completed by July 1…
Offshore accommodation rig provider Prosafe has published an operational update for February 2025, achieving fleet utilization of 57%.The company’s accommodation rigs Safe Notos, Safe Zephyrus and Safe Concordia operated at full capacity during the period…
Italian oil giant Eni has completed the sale of its upstream assets in the UK, excluding East Irish Sea assets and CCUS activities, to Ithaca Energy, taking approximately 38.7% stake in the London-listed company.The combination is funded through…
North Sea oil and gas company Ithaca Energy reported a nearly 34% fall in net profit for the first half of the year on Thursday, hurt by lower production, a decline in natural gas prices and impairment charges.Shares of Ithaca, fell about 2…
Offshore accommodation rig provider Prosafe has received a letter of intent (LoI) from Ithaca Energy for the charter of its Safe Caledonia offshore accommodation rig for work at the Captain field in the UK sector of the North Sea.As stated in the LoI…
Eni has reached an agreement on the combination of substantially all of its upstream assets in the UK, excluding East Irish Sea assets and CCUS activities, with Ithaca Energy, creating a major independent oil and gas company present on the UK Continental Shelf (UKCS)…
Ithaca Energy has been given a four-week exclusivity period by Italy's Eni to make an offer for UK exploration and production assets that could expand its output massively, the London-listed company said on Wednesday.Buying those assets, including those of Eni's recently acquired Neptune Energy…
Norway-based Optime Subsea has signed a contract with Equinor for the delivery of its Remote Operated Controls System (ROCS) for the Rosebank field in the UK North Sea.The contract represents a significant step forward for Optime Subsea, which…
UK North Sea-focused oil company Ithaca Energy has appointed an interim Chief Executive Officer (CEO) as Alan Bruce steps down from the role.Having led Ithaca Energy through a successful IPO and first year as a listed company, Alan Bruce has…
Equinor is preparing to sell a 20% stake in its Rosebank oil development in the British North Sea, which could fetch about $1.5 billion, two industry sources said.The Norwegian energy giant is seeking to sell a quarter of its 80% stake in the project…
UK North Sea-focused oil company Ithaca Energy has completed the acquisition of the remaining 40% stake in the Fotla offshore discovery and three exploration licenses - P.213 Area C, P.345 Area A and P.2536 - from Spirit Energy. The acquisition…
Norwegian oil and gas company Equinor and its UK-based partner Ithaca Energy said Wednedsay they had 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…
Ithaca Energy's Executive Chair Gilad Myerson said on Wednesday that there was a 'very high likelihood' that Britain's Rosebank oil field development would be approved by authorities, Reuters has reported. A formal sanctioning of the project could take place by the end of the year…
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