Ithaca Energy Inc.: FDP Approved for Stella and Harrier Fields

Thursday, April 12, 2012      
  • The joint development of the Stella and Harrier fields, located in the Central North Sea, will involve the drilling of subsea horizontal wells tied back to the "FPF-1" floating production unit, with the export of processed hydrocarbons to nearby oil and
  • Transportation and onshore processing of oil and liquid rich gas arrangements will be announced when finalised.
  • A contract for use of the Ensco 100 heavy duty jack-up rig on the development drilling campaign to commence in H2 2012 was executed in November 2011.

Ithaca Energy Inc. (TSX:IAE)(AIM:IAE) announces that the Company has received Field Development Plan ("FDP") approval for the Stella and Harrier Fields from the UK government.

  • A contract was awarded to Petrofac in October 2011 to upgrade and modify the FPF-1, with associated cost and vessel performance incentivisation mechanisms. Specification of the yard for the conversion works will be announced following completion of the ongoing front end engineering and design.

The Stella and Harrier fields will benefit fully from the Supplementary Charge shelter provided by the amendments to Small Field Allowances recently announced by the UK Government.

Energy Minister Charles Hendry said:

"This investment from Ithaca Energy is excellent news and an example of plans coming forward to develop new oil and gas fields in the UK Continental Shelf.

"Last month's Budget announced changes to the field allowance for small fields to encourage exploration activity and enhance the case for development of technically challenging fields. It is vitally important we encourage a vibrant industry for these smaller fields to maximise the benefit to the UK of our offshore oil and
gas reserves."

The Partners in Stella and Harrier are Ithaca Energy (UK) Ltd (operator), Ithaca Minerals (North Sea) Ltd, Dyas UK Ltd and ultimately, under an Earn-In type arrangement, Petrofac GSA Limited.


Article Tags

Ithaca Energy Petrofac Dyas United Kingdom West Europe New Kid on the Block AIM North Sea Subsea

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

Related News

Join 80,000 oil and gas professionals who receive our weekly newsletter.

You may unsubscribe at any time with one click.

Upcoming OilVoice Training Course

Introduction to Petroleum Systems
Summary Source Rocks, Maturity of Source Rocks, Migration of Petroleum, Reservoirs, Seals and Trapping are all reviewed with respect to their basic physical principles, relative timing and the manners in which they are predicted and evaluated. Duration and Training Method 1 day, lectures broken up ...
London - 10 May

Duncan Macgregor


Discount Code
OilVoice-10 for 10% off any course.View Course

All OilVoice Training Courses
Popular Headlines View all

Mars Omega Inside Track View all

OilVoice has teamed up with specialist information providers Mars Omega, to provide you with exclusive reports on the most complex and volatile areas of exploration.

Politics and power: an insight into Iran's decision makers and takers

Nigeria: navigating the Delta

Latest Opinion View all

Join 90,000 other oil and gas professionals

Network with others, build your profile, and receive the latest oil and gas news in your inbox. It's free!

Create profile

Time for a change? All jobs Jobs near you

OilVoice Training All upcoming


OilVoice, established in 2002, is your leading source of upstream news, jobs and industry information.


Each week we send our weekly industry round-up. Why not try it? You may unsubscribe at any time.

Contact OilVoice

Milton Keynes
United Kingdom
Phone: +44 207 993 5991
Contact Us

Stay Connected

2015 © OilVoice  .  Privacy Policy  .  Terms of Service  .  Oil Careers  .  Advertise with us