One-Page Deal Sheet
Ithaca to Acquire 20% Interest in North Sea Vorlich Discovery
Ithaca Energy Inc. Total SA
Announced Date
January 12,2016
Effective Date
July 01,2015
Close Date
July 01,2016
Transaction Type
Farm-In/Farm Out
Location
Region
North Sea,Offshore
Country
United Kingdom
Play
Production & Reserves Reserves
Transaction Details: Subscribe to see
Ithaca Energy has announced that a sale and purchase agreement has been signed with TOTAL E&P UK Limited to acquire a 20% non-operated interest in Licence P363 (block 30/1c), effective 1 July 2015.
The licence is operated by BP plc and contains approximately 80-90% of the Vorlich discovery, implying an approximately 17% interest in the overall discovery. Vorlich is located approximately 10 kilometres north of the GSA hub.
Vorlich was discovered and appraised in 2014 with exploration well 30/1f-13A,Z and 13Z. The well encountered hydrocarbons in a Palaeocene sandstone reservoir in block…