Ithaca Energy has been awarded with two operated licenses in the UK’s 27th Offshore Licensing Round.
The licenses include Block 29/5d, which is in the vicinity of the company’s existing Greater Stella Area (GSA) interests, and Block 15/17b in the Outer Moray Firth.
The license offers depend on the completion of technical studies, leading to a drill or drop decision on each license within two years of the formal license award.
Ithaca Energy chief technical officer, Nick Muir, said: "These licenses enable the Company to further increase its GSA stock of opportunities for the FPF-1 production hub and to establish a new foothold in a prolific area of the Outer Moray Firth."
The Block 29/5d, located in the GSA, contains the company’s recently appraised Hurricane discovery and is close to the future location of the ‘FPF-1’ floating production unit that will be installed as part of the ongoing development of the Stella and Harrier fields in Block 30/6a.
The block will be operated by Ithaca, with a 54.66% stake holding, while Dyas UK and Petrofac Energy Developments UK will have interests of 25.34% and 20% respectively.
Block 15/17b, located in the Outer Moray Firth basin, contains four undeveloped Jurassic oil discoveries, known as the "Piper Isles".
The block is adjacent to a number of oil producing fields, most notably Piper, Saltire, Iona and Chanter.
Block 15/17b will also be operated by Ithaca with 50% interest ownership and its co-partner Premier Oil will hold the remaining 50% stake in the project.
The work programme for the blocks includes the completion of technical (subsurface) studies and the development concept screening analysis, the company said.
