Ithaca Jacky Field Performance Exceeds Expectations

21 July 2009 (Last Updated July 21st, 2009 18:30)

Ithaca Energy said that production from the Jacky field in the UK sector of the North Sea is now flowing at rates in excess of 11,000 barrels of oil per day (bopd). On 6 April the Jacky production well started flowing without artificial lift at gross rates of about 8,800bopd. On

Ithaca Energy said that production from the Jacky field in the UK sector of the North Sea is now flowing at rates in excess of 11,000 barrels of oil per day (bopd).

On 6 April the Jacky production well started flowing without artificial lift at gross rates of about 8,800bopd.

On 20 May the down hole pump was activated, immediately boosting the flow from the reservoir.

Since then optimisation of pump performance has resulted in progressive production rate improvement and now daily rates are in excess of 11,000bopd (7,400bopd net to Ithaca).

The company has also reported that daily rates continue to increase.

Average production for the month of June 2009 was about 9,300bopd.

Combined rates from the Jacky and Beatrice fields producing to the Nigg oil terminal in June were in excess of 10,900bopd.

The Jacky field has continued to produce 'dry' oil, increasing confidence in the likely ultimate production volume.

Ithaca Energy plans to drill a water injection well in the third quarter of 2009 to support and maintain production levels through 2010 and beyond. A drilling rig has been identified for this work.

Partners in the Jacky field are Ithaca Energy (67.275%), Dyas UK (22.725%) and North Sea Energy (10%).