Ithaca Energy Inc., Stella Project Delivery Manager Appointed (UK)

Ithaca Energy Inc. and its wholly owned subsidiary Ithaca Energy (UK) Limited , an independent oil & gas company with exploration, development and production assets in the UK sector of the North Sea, announces the appointment of Fergus McGhie as Project Delivery Manager for the development of the Stella, Harrier and Hurricane discoveries, located in the UK sector of the Central North Sea.

Mr McGhie joins the company from Shell UK Limited where he was Central and Northern North Sea Project Portfolio Manager with overall responsibility for delivery of the group’s major integrated capital expenditure projects through to first production. Formerly, Mr McGhie was Head of Subsea and Pipeline Projects for Shell in Europe and was responsible for the delivery of projects worth almost US$1.5 billion including gas fields

Caravel/Shamrock, the Starling, Scoter and Merganser developments via Shearwater infrastructure in the Central North Sea (“CNS”), major reconstructions on the Anasuria, Curlew, Pierce FPSOs, FLAGS Hot-tap, various Brownfield tiebacks over the Penguins, Nelson and Gannet (CNS) infrastructure and several other seabed asset integrity upgrades in the North Sea.

Mr McGhie is a marine engineer and Fellow of the Society of Underwater Technology, with over 35 years experience having worked for the British Merchant Navy, Vetco Offshore, Conoco and Elf before joining Shell in 1997.

Iain McKendrick, Chief Executive Officer commented: “The appointment of someone with Fergus’ calibre and experience underlines our strategy of using the best technical, project delivery, operational and commercial  expertise to find and develop hydrocarbons in the UK sector of the North Sea. The highly successful appraisal of Stella, particularly the confirmation of a significant oil column and the additional proved and probable reserves, has provided the Company with a challenging and exciting combined development of Stella and Harrier for which Fergus’ skills are ideally matched. Our ability to recruit top people, the successes of our discoveries and development projects to date coupled with recent acquisitions of producing assets at attractive terms continues to strengthen Ithaca’s footing in the North Sea.“

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Source:Ithaca Energy , October 12, 2010;