Ithaca Energy News

Esgian reports on the many rig movements that occurred last week in its Week 16 Rig Analytics Market Roundup.Report SummaryContractsADES Holding Company has received a letter of award from an international oil company for a one-year firm drilling contract for a jackup offshore Qatar.TotalEnergies has exercised a three-well option for Transocean 12,000-ft drillship Deepwater Skyros offshore Angola at a rate of $400,000, keeping the rig working into December 2025.After initially beginning a short-term job in the US GOM in January 2024…

Esgian reports shifts in demand in its Week 13 Rig Analytics Market Roundup.Report overview:ContractsADES has received a Letter of Intent (LOI) from PTTEP Energy Development Company Limited for an 18-month jackup drilling contract in the Gulf of Thailand. Operations are expected to begin in the second half of 2024, with an unspecified jackup.Drilling Activity and DiscoveriesThe Norwegian Offshore Directorate (NOD) has granted Aker BP a drilling permit for an exploration well in…

Esgian has published its Week 48 Rig Market Roundup highlighting that new contract awards were revealed for a Velesto Drilling jackup, two Seadrill drillships and a Dolphin Drilling semisub. Meanwhile, Wintershall Dea is planning to drill a new carbon storage well in Norway.ContractsMalaysia’s Velesto Drilling has agreed on an extension of a contract with Carigali Hess Operating Company for another year and six months.Seadrill has secured a short-term contract for 12,000ft drillship West Vela in the US Gulf of Mexico with QuarterNorth Energy…

Dubai's shipbuilding and shiprepair company Drydocks World and Norwegian offshore engineering and construction firm Aker Solutions have established a joint venture to upgrade the Petrojarl Knarr FPSO for Equinor's Rosebank offshore oil and gas field in the UK, the Government of Dubai media office confirmed Friday.The joint venture signed its first contract with FPSO owner Altera Infrastructure to upgrade, refurbish, and electrify the FPSO. The vessel will be redeployed at Rosebank field…

Norway's Aker Solutions will upgrade Altera Infrastructure's Petrojarl  Knarr floating production storage and offloading vessel (FPSO) to be redeployed at Equinor's Rosebank field development, offshore the UK. Petrojarl Knarr was built by Samsung Heavy Industries in South Korea and delivered in 2014. It was operating on the Knarr field offshore Norway from 2015 until May 2022.The development concept for the Rosebank field includes the redeployment and reuse of the existing Petrojarl Knarr FPSO owned by Altera.Under a 'substantial' contract with Altera…

Bluewater's Haewene Brim FPSO, normally used for oil production from Shell's Pierce Field in the UK North Sea, has recently arrived in Haugesund, Norway.Norwegian engineering and construction Aibel shared a video of the FPSO arrival in Haugesund, towed by a Maersk Supply Service vessel. In Norway, the Haewene Brim FPSO, built in 1996,  will undergo upgrades and life extension work.While at Aibel's yard, the FPSO will also be upgraded to allow for gas export, the Norwegian firm said.According to World Energy Reports' FPSO database…

Norwegian offshore support vessel firm Solstad Offshore has secured a term contract for the platform supply vessel Far Symphony in the UK North Sea.The contract is with the UKCS-focused oil and gas company Ithaca Energy.Under the charter, the platform supplier, equipped with DP 2 from Kongsberg, will be supporting Ithaca’s UK North Sea operations for a period of one year firm, with further options up to one year. Solstad did not share the financial details.The contract for the 2003-built, Ulstein-designed PSV will begin during this month.

Norwegian offshore vessel owner DOF has won long-term contracts in the UK and Guyana for three of its platform supply vessels.In the UK, under the contract starting in April, the large PSV Skandi Gamma will work for Ithaca Energy for a period of two years firm. Ithaca will also have two one-year options to extend the contract.The Skandi Gamma has been working in the UKCS since 2019.Also, DOF has secured contracts for two large PSV's with an unnamed international contractor to support pipehaul operations in Guyana in 2021 and 2022. The 2021 campaign is expected to start in early Q3, and the award secures a backlog of at least 150 days in 2021, and 270 days in 2022.

Total has made a hydrocarbon discovery at the Isabella exploration well in the UK Central North Sea, Neptune Energy, Total's partner in the project has informed.Neptune Energy has described Isabella as "an encouraging hydrocarbon discovery" which encountered hydrocarbons in Upper Jurassic and Triassic sandstone reservoirs, with 64 meters net pay encountered, consisting of lean gas and condensate and high-quality light oil."The results of the well will be analyzed to further evaluate the discovery, determine future appraisal activity and recoverable resources estimates.

Israeli oil and gas company Delek has received an offer from an unnamed investor for a potential investment of up to $250 million into its North Sea focused subsidiary Ithaca Energy."Delek Group, received a signed offer from an international trading company to make an equity investment in Ithaca’s parent company through the purchase of USD 100 million in preferred shares of Ithaca’s parent company," said a stock exchange filing.The preferred shares carry a guaranteed dividend yield, and will automatically convert to approximately 4% of common shares at the time of Delek Group's initial public share offering, reflecting an equity value of USD 2.5 Billion for Ithaca Energy (pre money).In addition…

Ithaca Energy Inc. has expanded its core position in the Greater Stella Area ("GSA"), with four agreements entered into for the acquisition of additional interests in the "Vorlich" discovery and an operated interest in the "Austen" discovery. Les Thomas, Chief Executive Officer, stated, "We are very pleased to announce this group of low cost acquisitions that further expand our core Greater Stella Area portfolio.

Ithaca Energy Inc. reports that the "FPF-1" floating production facility has completed the required inclination test as planned and departed the Remontowa shipyard in Gdansk, Poland. The vessel has been moved to a deep water location offshore Gdansk to undertake final marine system trials over the course of next week. Upon completion of these trials, the FPF-1 will commence the tow to the Stella field. A further update will be provided once towing operations have commenced.

Providing an update on the status of the on-going Greater Stella Area (“GSA”) development programme Ithaca Energy informed that the floating production facility (FPF-1) modifications programme undertaken by Petrofac in the Remontowa shipyard in Poland is in the final stages of completion, with only a limited number of commissioning activities requiring close out prior to sail-away. Commissioning operations on the FPF-1 have continued to progress well over recent weeks and are now materially complete. The operations team have been living on the vessel since May, the marine works have been finished and the engineering teams are in the process of closing out handover of the various processing and utilities systems to the operations team.

Ithaca Energy Inc. announced completion of flow test operations on the third development well on the Stella field, with the well achieving a flow rate of 12,492 barrels of oil equivalent per day. Well 30/6a-B1Z (“B1”) is the third development well drilled on the Stella field. The well was drilled to a total measured depth subsea of 16,185 feet, with a 2,147 foot gross horizontal reservoir section completed in the Palaeocene Andrew sandstone reservoir. The well intersected high quality sands across a net reservoir interval of 2,034 feet, equating to 95% net pay. This compares to 1,312 feet and 2,514 feet in Stella wells A1 and A2, respectively.

Ithaca Energy Provided its operations update ahead of today’s Shareholders Meeting. The details are as follows. The third development well on the Stella field, well 30/06a-B1X (“B1”), has been successfully drilled to a total measured depth subsea of 16,185 feet. A 2,147 foot gross horizontal reservoir section was drilled in the Palaeocene Andrew sandstone reservoir, within the targeted oil rim. The well intersected high quality sands across a net reservoir interval of 2,034 feet, equating to 95% net pay. This compares to 1,312 feet and 2,514 feet in Stella wells A1 and A2, respectively. Operations are currently on-going to run the well completion assembly, following which a clean-up flow test will be performed.

The Greater Stella Area (GSA) development is located in the North Sea, 280 kilometers East-Southeast of Aberdeen, Scotland at a water depth of approximately 90 meters. Vessels from the Technip fleet will be used for the offshore campaign, including the Skandi Arctic and the Wellservicer. Ithaca Energy (UK) Ltd is developing the GSA, centred on the Stella and Harrier fields as a stand-alone development utilizing its own floating production vessel. ◦    Installation of the mooring system to the production platform and design and installation of five-slot mid water arch. Technip’s operating center in Aberdeen will execute the contract, which is scheduled to be completed in the second half of 2013.

Subsea 7 Inc, has been awarded a contract by Ithaca Energy (UK) Limited for installation works in Block 12/21c of the UK Sector North Sea approximately 10.5km north east of the existing Beatrice Alpha facilities. The contract is valued in excess of  $22m. Subsea 7 will provide project management, fabrication, installation and offshore pre-commissioning of a 10.5km production and water injection pipeline and power cable tie-back of the new Jacky platform to the Beatrice Alpha platform with a 1km production and water injection pipeline tie-back of the Beatrice Bravo platform to a mid-line manifold structure. The offshore installation of…