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First oil from Athena
Posted 28.05.2012 09:01:16 av John Bradbury
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Ithaca Energy has seen the fruits of its labours repaid with first oil being achieved from its UK North Sea Athena field.

“The initial operational phase of the field is in line with management's expectations and proceeding as planned.” Ithaca declared today as the first barrels of oil surged through the new subsea production system to the refitted BW Athena FPSO.

Ithaca is now working on bring each of the production wells online and establishing stable performance through processing and water injection systems.

Ithaca operates the field with 22.5%, partnered by Dyas UK with 47.5%. EWE Energies with 20% and Zeus Petroleum with 10%.

Currently Ithaca is mulling over potential company bidders after disclosing it had received “unsolicited interest from a number of third parties”back in March, and it has since said talks are underway and the company has promised to provide an update within a month. First oil from Athena may help crystalise the interest from any other companies willing to buyout the Canadian-based producer.
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