North sea base investments limited

Companies News. Add i3 Energy PLC to alerts. Though an appraisal programme earlier this year disappointed Verbier is still estimated to host some 25mln barrels, plus some as yet untested potential in possible extension areas. Mining What next for commodities, as rolls around? Health Polarean Imaging installs polariser at the University of Iowa

Using our data

Pro-forma the transaction, Ithaca’s asset base is estimated to consist of 2P reserves of approximately million barrels of oil equivalent 1 «MMboe» liimited a further 45 MMboe 2 of proven and probable contingent «2C» resources associated primarily with additional near-field development and infill drilling opportunities. As part of the transaction approximately employees will transfer to the Company, of which around work offshore north sea base investments limited the operated assets. With the addition of the high quality, long life assets that characterise the Inveztments portfolio, the acquisition delivers upon a number of key strategic objectives of the Company and establishes Ithaca as the second largest independent oil and gas producer in the UK North Sea. The transaction has an effective date of 1 January investmens is expected to complete around the end of the third quarter of following approval of the acquisition by the UK Oil and Gas Authority. Ithaca is a wholly owned subsidiary of the Tel Aviv stock exchange listed Delek Group Limited «Delek»Israel’s leading integrated energy company.

Read M&A insights you won’t find elsewhere

North Sea oil is a mixture of hydrocarbons , comprising liquid petroleum and natural gas , produced from petroleum reservoirs beneath the North Sea. In the petroleum industry , the term «North Sea» often includes areas such as the Norwegian Sea and the area known as «West of Shetland», «the Atlantic Frontier» or «the Atlantic Margin» that is not geographically part of the North Sea. Brent crude is still used today as a standard benchmark for pricing oil, although the contract now refers to a blend of oils from fields in the northern North Sea. Commercial extraction of oil on the shores of the North Sea dates back to , when James Young retorted oil from torbanite boghead coal, or oil shale mined in the Midland Valley of Scotland. Gas was found by chance in a water well near Hamburg in , leading to minor gas discoveries in Zechstein idiots elsewhere in Germany. Seismic exploration and the first well followed later that year.

The Brewing Conflict along the Red Sea

North Sea Oil assets Former Investors

In the event, the balance came down in favour of England. See ingestments news matching. Try full access for 4 weeks. Accessibility help Skip to navigation Skip to content Skip to footer. Similar resources have been exploited elsewhere — in Yemen, Libya and Vietnam for example — and, over recent years Hurricane has brought the Lancaster field to the cusp of production.