LONDON - Ithaca Energy (LON:ITH) plc, a prominent UK independent exploration and production company, today announced the discovery of hydrocarbons at the Jocelyn South prospect, part of the Central North Sea's J-Area. The exploration drilling results indicated the presence of gas condensate within the Joanne sandstone reservoir, encountered at a depth of 12,620 feet true vertical depth subsea (TVDSS).
The company, which holds a 33% working interest in the prospect, was informed by Harbour Energy, the operator, of the provisional net pay thickness of approximately 434 feet measured depth (MD), translating to 307.6 feet true vertical thickness (TVT). During the drilling process, logging while drilling data, along with cuttings and pressures, were collected to assess the reservoir quality and fluid characteristics.
Ithaca Energy, alongside its involvement in the Jocelyn South prospect, maintains interests in several fields within the J-Area, including Jade, Judy, Jasmine, and the recently activated Talbot field, which commenced production in November 2024.
The operator is set to continue data analysis to determine the commercial viability of the Jocelyn South reservoir. This discovery is part of Ithaca Energy's broader strategy to grow its asset portfolio in the UK North Sea. The company, which recently merged with Eni UK, is now one of the largest independent oil and gas entities in the UK Continental Shelf by production and resource base.
Ithaca Energy's engagement in the North Sea aligns with the UK Government's focus on energy security, positioning the company to contribute significantly to domestic energy supply. The firm is also committed to sustainable operations, aiming to reach net zero emissions ahead of the North Sea Transition Deal targets.
Ithaca Energy plc is listed on the London Stock Exchange (LON:LSEG) (LON: ITH) since 14 November 2022. Today's announcement is based on a press release statement provided by the company.
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