The Health and Safety Executive (HSE) has warned Ithaca Energy (LON: ITH) that flaws with how it manages the ballast systems on its FPF1 installation put workers “at the risk of serious personal injury or death”.
Ithaca Energy has secured access to a major oil export pipeline allowing it to transport future production from its Greater Stella Area development project in the UK North Sea, at a cost of around $20million, with first production slated by September.
Ithaca Energy has reported a loss after tax of $121 million as result of a $203 million post-tax impairment charge arising from lower forecast future oil and gas prices.
