Ithaca Energy in Exclusive Talks to Buy Eni's UK Upstream Assets

North Sea oil and gas producer Ithaca Energy has entered into an exclusivity agreement to discuss buying all of the UK upstream business of Italy’s energy major Eni. A deal, if it takes place, will be for substantially all of Eni’s oil and gas assets in the UK, including the Neptune Energy assets which the Italian major has recently acquired. But a transaction will not include certain carbon capture projects and Irish Sea assets held by Eni, Ithaca Energy said on Wednesday.

If the parties reach an agreement, a combination of the businesses will add significant scale and diversification to Ithaca Energy’s business, with pro forma production rising above 100,000 boe/d and creating the second-largest independent operator in the UKCS by production. A deal would also boost Ithaca Energy’s status as the largest independent operator by resource, holding stakes in 6 of the 10 largest fields offshore the UK.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Yorkshire Energy Park: Plans for £200m green energy park which could create 4,500 jobs approvedPlans for a £200m green energy park, which could create 4,500 jobs, have been given the green light.
Source: The Yorkshire Post - 🏆 39. / 66 Read more »

Cenovus Energy To Boost Energy Production 19%Canada's Cenovus Energy will boost its energy production by 19% over the next five years, in line with pipeline capacity growth
Source: OilandEnergy - 🏆 34. / 68 Read more »

Major energy supplier launches ‘UK’s cheapest’ fixed deal that’s £347 less than price capWhat is the energy price cap?
Source: TheSun - 🏆 64. / 61 Read more »

Scientists aim to understand why T cells do not sustain energy in tumorsT cells are often called 'assassins' or 'killers' because they can orchestrate and carry out missions to hunt down bacteria, viruses, and cancer cells throughout the body.
Source: NewsMedical - 🏆 19. / 71 Read more »

The list of people eligible for £400 discount on energy bills'This funding will help some of the lowest income households'
Source: MENnewsdesk - 🏆 23. / 69 Read more »