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Ithaca sanctions Captain EOR 2 development

The UK independent presses go on its largest portfolio project after issuing M&A price warning

UK producer Ithaca Energy has sanctioned the enhanced oil recovery (EOR) stage 2 project at its Captain oilfield in the UK’s Central North Sea after receiving field development plan addendum consent from the Oil and Gas Authority, the country’s upstream regulator. The project is designed to significantly increase hydrocarbon recovery by injecting polymerised water into the reservoir through additional subsea wells, subsea infrastructure and new topside facilities. It involves drilling ten new wells at an investment of £400mn ($548mn) and adding 40mn bl oe of incremental resources. £400mn – Captain EOR 2 investment First oil from Captain EOR stage 2 is due in early 2023, with t

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