Offshore staff
TEL AVIV, Israel – Delek Group subsidiary Ithaca Energy has committed to drill a first exploratory well on the Isabella oil prospect in the UK North Sea, 260 km (161 mi) offshore.
This follows a recommendation by the project operator, Total E&P North Sea UK. Ithaca is carried for the drilling costs.
A new report from Netherland Sewell and Associates estimates Isabella’s prospective resources at up to 39.3 MMbbl of oil and 308.7 bcf of gas in the target Joanne sand, with a further 24.1 MMbbl of oil and 190.5 bcf of gas in the secondary target, the Judy sand.
Drilling is expected to start this month and continue for six months. Water depth at the location is around 80 m (262 ft) and the planned depth of the well is 5,380 m (17,651 ft), although that might change depending on drilling results.
Delek estimates the overall cost of the well at £51 million ($62.7 million).
10/03/2019
