Oil and gas company Ithaca Energy, owned by Israeli Delek Group, has awarded a long-term deal, covering its North Sea assets, to Centurion Group’s UK brand ATR Lifting Solutions.
Centurion revealed last Friday that its UK brand ATR Lifting Solutions was awarded a three-year contract by Ithaca Energy for the provision of lifting gear and inspection services across the operator’s North Sea portfolio of assets.
“ATR were successfully awarded this contract through a competitive tender process and are delighted that they have been chosen as the supply partner of choice,” added Centurion.
Only a few days earlier, Delek’s Ithaca picked Well-Safe Solutions to undertake well decommissioning operations in the North Sea.
Under the terms of the deal, Well-Safe Solutions is expected to plug and abandon six wells on the Anglia platform in the Southern North Sea, approximately 55 km from the UK mainland.
Ithaca has also been actively expanding its North Sea portfolio this year with two deals inked recently. In March 2022, the company signed an agreement to acquire 100 per cent of the share capital of Summit Exploration and Production , based on an enterprise value of $148 million, expecting to produce the first oil from a subsea tie-back to its FPF-1 facility later this year.
Come April, Ithaca disclosed another deal to acquire Siccar Point Energy’s portfolio with valuable North Sea assets, including the Cambo oil project off the UK, for a price tag of nearly $1.5 billion .
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This acquisition will double Ithaca’s recoverable reserves and support the production of at least 80,000 – 90,000 boe/d through the next decade, with the potential to increase this through further portfolio opportunities.