Our Ambition and Strategy
Our Strategic pillars
Ithaca Energy's transformational Combination with ENI UK creates a dynamic growth player with an enhanced platform for organic and inorganic growth executing across our Buy, BUILD and BOOST strategy.
With significant optionality across the portfolio, a strong track record in delivering value-accretive M&A, material financial firepower and with the AGILITY of an independent and the CAPABILITIES of a Major, Ithaca Energy will be value-driven, focusing on high-grading investment across its range of growth opportunities to maximise sustainable shareholder value.
BUY ASSETS
Leverage our proven M&A execution capabilities and deep integration expertise to BUY and build a portfolio of significant scale
- Pursue value accretive transactions with a focus on further consolidation in our core UKCS market
- Pursue international M&A, as an additional route for value creation, leveraging the Group's enhanced technical resource, financial strength and the expertise of our shareholders
- Leverage our full cycle capabilities to materialise value across asset packages
- Take a measured approach to M&A opportunities, following stringent investment criteria
BUILD ASSETS
Develop projects with strong economics and lower carbon intensity to BUILD a robust long-term portfolio
- Pursue low carbon intensity greenfield projects that significantly transform our emissions footprint and provide longevity and material growth to our portfolio
- Target adjacent upside potential to existing greenfield developments, utilising our deep technical expertise
- Invest in brownfield opportunities close to existing infrastructure with attractive returns
- Seek operatorship, where possible, to control our capital programme and ensure the robust high grading of opportunities
BOOST ASSETS
Deploy our deep operational expertise and pioneering minds to BOOST field performance and enhance margins
- Deliver safe and reliable operations
- Deliver operational improvements across our portfolio
- Focus on production efficiency initiatives to optimise revenue realisation and lower unit operating costs
- Develop and deploy innovative technology to maximise field recovery
- Build strategic relationships with key supply chain partners, leveraging on our increased scale of operations
- Realise G&A savings from the Business Combination with Eni UK
Our Strategic Enablers
Our success is underpinned by the safe, efficient and responsible production of our company’s assets and supported by a robust and solid financial framework. Our people are core to our success. We will only succeed if we work together, harnessing the collective expertise and experience of our people.
ROBUST FINANCIAL FRAMEWORK
A robust and balanced framework supports strong sustainable returns
- Preserve balance sheet strength with a targeted leveraged position below 1.5X
- Maintain a balanced capital allocation framework to maximise growth while providing material shareholder returns
- Take a disciplined approach to financial risk management, hedging, budgeting and long-term investment planning
SAFETY, SUSTAINABILITY AND OUR PEOPLE
We put our people, their safety and environmental responsibility at the heart of everything we do
- Ensure no harm to our people or environment, by excelling as safety leaders
- Focus on delivering our well-defined, short term emissions reduction initiatives
- Transition the portfolio over the medium to long term, targeting Net Zero ahead of targets set out in the North Sea Transition Deal, on a net equity basis
- Recruit, retain and develop a skilled, adaptable and diverse workforce
- Align our people goals and performance management to our company values and behaviours
- Give back to the communities in which we operate, to make a positive difference
Contact Us
Reach out to find out more on how we’re redefining North Sea oil and gas production