First oil production from Athena in North Sea

Offshore staff

CALGARY, Canada – Ithaca Energy has started oil production from the Athena field in the UK central North Sea.

The initial operations phase involves bringing production from each well online to the FPSO BW Athena and establishing stable performance of the oil processing and water injection systems.

Ithaca has ceased discussions with all parties reportedly interested in acquiring the company, and now intends to pursue further growth opportunities in the UK offshore sector. These could be financed by an increased credit-approved facility from BNP Paribas. Ithaca claims it can draw on funds of up to $250 million for suitable targets.

5/29/2012

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...