Ithaca Energy Takes Over As Carna Operator

Ithaca Energy has completed a deal which will see the Canadian explorer take over operatorship of the Carna gas discovery from Centrica. Through the agreement, Ithaca will also double its stake in the project.

The deal relates to the Carna gas field in the Southern Gas Basin of the UK North Sea, where a well has already been drilled. The 43/21b-5Z well, which was drilled in 2009, tested at a gross stabilised rate of 8.8 million cubic feet a day.

The Carna field is located adjacently to two producing gas fields, the Garrow and Kilmar gas fields and straddles the 43/21b and 43/22c blocks. 

Ithaca will take over as operator of this well while also increasing its stake in the field from 16 to 32 per cent, reducing Centrica's interest to 40 per cent.

Ithaca has also agreed to a work programme to accelerate development studies of the field and will also, if necessary, submit a Field Development Plan for approval to the Department of Energy and Climate Change (DECC) before the end of 2012.

No other details of the transaction have been released as the terms of the deal remains confidential between the two companies.

Dyas UK and EWE Energie are the two remaining stakeholders in the Carna Joint Venture, with 24 per cent and 4 per cent stake respectively.