Ithaca is "still looking at potential acquisitions"
Ithaca sanctions Captain EOR 2 development
The UK independent presses go on its largest portfolio project after issuing M&A price warning
UK producer Ithaca Energy has sanctioned the enhanced oil recovery (EOR) stage 2 project at its Captain oilfield in the UK’s Central North Sea after receiving field development plan addendum consent from the Oil and Gas Authority, the country’s upstream regulator. The project is designed to significantly increase hydrocarbon recovery by injecting polymerised water into the reservoir through additional subsea wells, subsea infrastructure and new topside facilities. It involves drilling ten new wells at an investment of £400mn ($548mn) and adding 40mn bl oe of incremental resources. £400mn – Captain EOR 2 investment First oil from Captain EOR stage 2 is due in early 2023, with the
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
