What does the future hold for UK’s Rosebank and Jackdaw?
UK offshore energy investors are consolidating their assets as the government remains vague on necessary investment criteria - but it could also mean the return of 'dirty word' Cambo.
Cambo
Is the future of North Sea drilling in doubt after Supreme Court ruling?
Climate law experts say the Supreme Court's decision will likely "undermine investor confidence" in the North Sea and boost legal challenges to the Jackdaw and Rosebank developments.
Cambo fate will be decided in months as Ithaca weighs tax uncertainty
A decision on whether the controversial Cambo field will be sanctioned or delayed is set to be decided in months as bosses weight the impact of North Sea tax policy.
Cambo: Entry of Italy’s Eni could unlock Ithaca Energy oilfield
The planned entry of Italian oil major Eni “de-risks” the Cambo oilfield in the West of Shetland, owner Ithaca Energy has said.
‘Buyer’s market’: Several North Sea ‘deals to watch’ as general election looms
There are several “deals to watch” in the UK North Sea in 2024 as a general election looms and companies reshuffle their positions.
Ithaca expects Cambo approval to follow Rosebank path
"Ultimately political and regulatory processes will work through to get the right answer."
Ithaca Energy wrote to Humza Yousaf over ‘extremely disappointing’ Rosebank comments
Ithaca Energy criticised the First Minister after remarks late last year.
2024: A lost year for North Sea FIDs?
Amid ongoing scorn over windfall taxes and a looming general election, the outlook for new project sanctions in the North Sea has remained cloudy throughout 2023.
Ithaca completes acquisition of Shell’s Cambo stake
Ithaca Energy has completed its acquisition of Shell’s remaining 30% stake in the Cambo field, as it now looks to bring in a new venture partner ahead of investment sanction.
Ithaca could go it alone on Cambo – but plans not to
Ithaca Energy’s chairman says the company could sanction the West of Shetland project on its own but would prefer to bring in partners ahead of any major decisions.
Ithaca welcomes ‘strategic progress’ on Cambo, Rosebank in Q3
Ithaca Energy reported net income of $238.5 million (£190m) for the nine months ending 30 September, as farm-out discussions continue on key North Sea projects.
Equinor eyes partial sale of Rosebank oilfield
Equinor (OSLO: EQNR) is looking to sell off a 20% share in Rosebank, making up a quarter of its existing stake in the UK's largest untapped oilfield.
Ithaca hits pause on West of Shetland electrification involvement
Ithaca Energy (LON: ITH) has paused its efforts to electrify assets in the West of Shetland, Energy Voice understands.
Interview: Ithaca Energy on fresh hunt for Cambo partner
Ithaca Energy CEO Alan Bruce discusses the farm-out, work on the Cambo FID and why the UK should be a bit more Norway. . .
Shell completes exit of Cambo oilfield as Ithaca Energy buys out stake
Ithaca Energy (LON: ITH) will buy out Shell’s (LON: SHEL) stake in the Cambo oilfield, becoming the 100% owner of the West of Shetland project.
Analysts revise Ithaca outlook over ‘lack of progress’ on Cambo
Analysts have revised their forecasts for Ithaca Energy following a string of cancelled investments and slow going on the development of major projects like Cambo.
‘Real doubt’ over feasibility of CNS electrification plans
Analysts have questioned the feasibility of electrifying major Central North Sea assets given the maturity of the area.
‘And John Lewis will come back into town…’: Ithaca boss talks up high street boost of Cambo and Rosebank
The chair of Ithaca Energy has talked up the economic benefits of backing the Cambo and Rosebank projects for local economies, including a potential high street resurgence.
Shell’s quest to find buyer for Cambo stake ‘progressing well’, claims partner
“On Cambo, Shell has a 30% share and our understanding is they are progressing well - hopefully that sales process will end soon. That will allow us to continue the project towards FID.”
WoodMac analysis sets out ‘compelling’ case for Rosebank and Cambo development
New analysis by WoodMackenzie sets out the “material opportunities” of the Rosebank and Cambo developments in terms of energy security, emissions and economics.
North Sea M&A deals ‘dominated by large production portfolios’
There's a hotting-up M&A market in the UK North Sea, including some of the largest players like Harbour Energy. We take a look at where deals are being made.
Windfall Tax price floor: What difference will it make to the North Sea?
While it’s not a panacea - and may never actually kick into force - the windfall tax price floor could help with financing the $5bn of North Sea projects awaiting FID.
Fotla and a delayed Marigold project in the Ithaca Energy FID pipeline
Aside from the giant Rosebank and Cambo oilfields - the former expected to be sanctioned this year - there’s a pair of smaller projects in the FID pipeline for Ithaca Energy (LON: ITH).
NSTA to greenlight projects to produce over a billion barrels from UK waters
The UK regulator, North Sea Transition Authority, has held a meeting with operators in the region to develop 22 new energy projects that will deliver over a billion barrels.
‘Still work to do’ on Shell’s Penguins FPSO
Shell would not be drawn on a sailaway and start-up date for its next North Sea development, with the Penguins FPSO set to remain in Norway for several more months.