Ithaca Energy has started drilling work at its Fotla project in hopes of boosting barrels via its Alba field.
An exploration well was spudded at the prospect, around seven miles south-west of the Alba Northern platform, on August 5, according to data published on the Oil and Gas Authority (OGA) website.
Ithaca’s parent firm Delek has estimated that Fotla has mid case (best estimate) potentially recoverable resources of 21million barrels of oil, rising to 41m in the high case or dropping to 10m in the low case.
Rig contractor Awilco said back in March that it would spud the Fotla well no later than May 31 with the Wilphoenix vessel.
The award came as a welcome boost for Awilco, which crashed to pre-tax losses of $156 million in 2020 due to impairments and cancelled rig construction deals.
Delek said the cost of drilling stands at around £15.4million.
Fotla had been planned for last year but, due to Covid, was put on the back burner.
Ithaca announced in August that it planned to restart schemes including Fotla and the Captain enhanced oil recovery project.
Waldorf Production announced a proposed acquisition in March for a 15% stake in the prospect from Ithaca, who is also partnered with Spirit Energy (40%) on Fotla.
However, it is understood that this has not yet been signed and Spirit remains Ithaca’s sole partner on the project.