Operations
We innovate. We adapt. We act responsibly.
Our portfolio in numbers
Ithaca Energy is driven by pragmatism and balance. Pragmatism, because the world still needs oil and gas. Balance, because we recognise our responsibilities to produce these resources with the lowest impact on our environment.
We have built a diverse and high value portfolio of operated and non-operated assets across the Northern, Central and Southern North Sea and West of Shetland. With a mix of producing, development, appraisal and exploration assets, we will leverage our deep operational expertise across the full E&P lifecycle to generate value across our portfolio.
We are proud of our North Sea heritage, our strong commitment to safety and our reputation for operational excellence and technical innovation. With a large operated base, we control our own destiny. We adopt the most advanced technologies and thinking to maximise field recovery and returns. We see value where others may not, investing in low-cost, high-return brownfield developments close to our existing infrastructure.
With continued drive and ambition for a strong future in the UK North Sea basin, we will invest in our material greenfield project portfolio, providing long life production to meet the UK’s energy needs to 2040 and beyond. In so doing, we will fundamentally transition our portfolio to lower emission-intensity assets in the medium to long-term.
Put simply, our goal is to maximise value through the safe, efficient and responsible production of our assets.
Operated Assets
Ithaca Energy has a solid and diversified producing asset portfolio, generating significant free cashflow, and material upside potential from an attractive pipeline of greenfield development opportunities. Our operated assets are located in the Northern, Central and Southern North Sea, West of Shetland and Moray Firth areas of the UK Continental Shelf.
Non-Operated Assets
Ithaca Energy's portfolio includes a variety of non-operated assets in the UKCS.