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Carna equity deal completes
Posted 22.05.2012 10:44:43 av John Bradbury
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Ithaca is stepping up to become operator of the Carna gas discovery in the UK Southern North Sea after closing a deal to double its equity interest in the find.

Discovered back in 2009, Carna has been tested with a flow rate of up to 8.8 Mmcf/d of gas and Ithaca has now closed a previously disclosed deal to double its equity in the field from 16% to 32% in a transaction with  Centrica.

Carna straddles UK blocks 43/21b and 43/22c and lies adjacent to the producing Garrow and Kilmar gas fields operated by ATP.

As result of the deal with Centrica which was first disclosed back at the end of March, Ithaca becomes operator of Carna and is responsible for devising a field development plan by the end of this year.

When it was discovered, the Carna well encountered a 1,490 foot (454 metres) gas column with 127 feet (38.7 metres) of net pay.

Centrica remains with 40% equity in the field, and the other partners are Dyas UK with 24% and EWE Energie AG with 4%.
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