Ithaca Energy was originally founded in Canada in 2004. It shifted its focus to the North Sea and grew through acquisitions and organic development and moved to the UK when it took over operations in the Beatrice oil field in 2008.[3][a]
Delek Group still retains in excess of 75% ownership and voting rights.[13]
Operations
Ithaca Energy's core business is the exploration, development, and production of hydrocarbons in the UK Continental Shelf.[14] Its portfolio comprises a mix of operated and non-operated assets, spread across the Northern and Central North Sea, as well as West of Shetland. The company's asset base includes interests in several key fields, such as the Greater Stella Area.[15]
Ithaca has been subject to environmental protests in response to their opening of the Cambo oil field and their plans to develop the Rosebank oil field in September 2023.[16][17]
Ithaca was the subject of protests for its connection with Israeli settlements in March 2018. Ithaca is a subsidiary of Delek, a company which the UN reported as supplying services and utilities supporting the maintenance and existence of Israeli settlements in Palestine.[18]
A Fossil Free London protest against Ithaca
Notes
↑Talisman Energy resumed ownership of the field in 2015 in preparation for decommissioning the field.[4]
↑Ithaca Energy ceased production in the Anglia gas field in 2015.[6]
