Ithaca Gets Go-Ahead to Develop Athena Field

Ithaca Energy has received Field Development Plan approval from the UK Department for Energy and Climate Change for the Athena oil field. By garnering approval, the field is on schedule to reach first oil by the third quarter of 2011. The field is situated on Block 14/18b in the Outer Moray Firth area in the UK sector of the North Sea in 440 feet (134 meters) of water. Ithaca Energy serves as the operator of the field, holding a 22.5% interest; Dyas UK Ltd. holds 47.5%; EWE holds 20%; and Zeus holds the remaining 10% interest.

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