UK: Ithaca Energy Completes Athena Production Preparations

July 11, 2011

Ithaca Energy Inc announces that operations to prepare the Athena field development well 14/18b-A2Z (“the well” or “A2”) for production have been successfully concluded. A 7″ production liner and a dual electrical submersible pump system have been successfully installed above the horizontal section of the well and the subsea xmas tree and flowbase are ready for the hook-up of flowlines by the subsea installation contractor in September.

The Sedco 704 drilling unit, will stay on location to undertake further completion work for the project and is currently preparing to complete 14/18b-16(to be renamed 14/18b-A3 or “A3”). This is the second of a five well programme of completions (four production and one water injection) to be carried out before hook-up to the Floating Production Storage and Offloading vessel, BW Athena which is scheduled to sail to the Athena location by the end of Q3 2011.

Athena Joint Venture Partners are Ithaca (operator, 22.5%), Dyas UK Ltd (47.5%), EWE Aktiengesellschaft (20%) and Zeus Petroleum Limited (10%).

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Source: Ithaca Energy, July 11, 2011; Image:BW Offshore