In a pivotal legal showdown, Shell and Equinor have urged a Scottish court to uphold the UK government’s approval of two contentious North Sea oil and gas projects—Jackdaw and Rosebank. Environmental groups, spearheaded by Greenpeace, are fiercely challenging these developments, arguing that they pose a significant threat to climate commitments. The Court of Session in […]
Ithaca Energy has finalized an agreement to acquire the majority of Eni’s upstream assets in the United Kingdom in a substantial all-stock transaction valued at approximately £754 million. This deal strategically excludes Eni’s East Irish Sea assets and its carbon capture, utilization, and storage (CCUS) activities in the UK. Through this acquisition, Ithaca Energy will […]
Ithaca Energy, a leading independent oil and gas operator in the UK North Sea, announced a significant step towards a transformative combination with Eni S.p.A.’s UK upstream assets, signaling a major move in the energy sector. This potential combination, excluding Eni’s CCUS and Irish sea assets but including the recently acquired Neptune Energy assets, is […]
Ithaca Energy (LON: ITH) has successfully acquired the remaining 30% stake in Cambo from Shell U.K. Limited, taking its ownership to 100% as of 12 September 2023. The deal, focusing on minimal near-term cost exposure, involves payment upon first oil or after any subsequent sale of a working interest in Cambo by Ithaca Energy, conditional […]
In a significant move, Ithaca Energy, in partnership with Equinor, the Operator, has officially greenlit Phase 1 of the Rosebank field development on the UK Continental Shelf, committing a substantial $3.8 billion to the venture. The North Sea Transition Authority (“NSTA”) has granted its consent for the field’s development, marking a pivotal moment in the […]
Ithaca Energy announced that it has signed a Sale and Purchase Agreement to acquire the remaining 40% stake in the Fotla discovery and three exploration licenses (P.213 Area C, P.345 Area A and P.2536) from Spirit Energy Resources Limited. This acquisition, subject to regulatory approval and other conditions, will increase Ithaca Energy’s stake in the […]
Ithaca Energy, a fully-owned subsidiary of Delek Group, has wrapped up the previously announced $1.46 billion acquisition of Scotland-based oil and gas company Siccar Point Energy. The deal, which was announced in April 2022, is expected to help Ithaca Energy become a major exploration and production (E&P) operator in the UK North Sea. The combined […]
Isabella discovery : French oil and gas giant Total, Neptune Energy and other partners in license P1820 have made a hydrocarbon discovery following the drilling of the Isabella 30/12d-11 well in the Central North Sea offshore UK. The discovery was made nearly 40 kilometers south of the producing Elgin-Franklin gas and condensate fields and 170 […]