 | |
| Company type | Public |
|---|---|
| Industry | Energy |
| Founded | 2004 |
| Headquarters | Aberdeen, Scotland |
Key people | Yaniv Friedman (Chairman) Iain Lewis (Interim CEO) |
| Revenue |  $2,319.8 million (2023) [1] |
| $486.1 million (2023) [1] | |
| $215.6 million (2023) [1] | |
| Parent | Delek Group |
| Website | investors |
Ithaca Energy plc is a British based, Israeli owned, oil and gas company operating in the North Sea. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. [2]
The company was established in Canada in 2004 and moved to the UK when it took over operations in the Beatrice oil field in 2008. [3] [lower-alpha 1]
In December 2010, Ithaca Energy became operator of the Anglia gas field by acquiring 30% stake in the field from GDF Suez E&P UK. [5] [lower-alpha 2]
It traded on the Alternative Investment Market until it was acquired by an Israeli-based company, Delek Group, in 2017. [7]
The company acquired Siccar Point Energy for $1.5 billion, giving it stakes in the Rosebank oil and gas field and the Cambo oil field, in July 2022. [8] [9]
The company was the subject of an initial public offering on the London Stock Exchange in November 2022. [10] [11] [12]
Delek Group still retains in excess of 75% ownership and voting rights. [13]
The company has a 20% stake in the non-operating Rosebank oil and gas field and 70% stake in the operating Cambo oil field. [7]
Ithaca has been subject to environmental protests in response to their opening of the Cambo oil field and their plans to develop the Rosebank oil field in September 2023. [14] [15]
Ithaca was the subject of protests for its connection with Israeli settlements in March 2018. Ithaca is a subsidiary of Delek, a company which the UN reported as supplying services and utilities supporting the maintenance and existence of Israeli settlements in Palestine. [16]
Capricorn Energy plc is a British oil and gas exploration and development company based in Edinburgh, Scotland.
Premier Oil plc was an independent UK oil company with gas and oil interests in the United Kingdom, Asia, Africa and Mexico. It was devoted entirely to the 'upstream' sector of the industry — the exploitation of oil and gas — as opposed to the 'downstream' refining and retail sector. It was listed on the London Stock Exchange until it was acquired by Chrysaor Holdings and then merged into Harbour Energy in March 2021.
Theddlethorpe Gas Terminal (TGT) is a former gas terminal on the Lincolnshire coast on Mablethorpe Road at Theddlethorpe St Helen close to Mablethorpe in East Lindsey in England. It is just off the A1031 and next door to a holiday camp and Mablethorpe Seal Sanctuary and Wildlife Centre.
Myanma Oil and Gas Enterprise is a national oil and gas company of Myanmar. It was established in 1963. MOGE royalties and fees are estimated to generate US$1.5 billion in annual revenues, about half of the country's foreign currency reserves. The company is a sole operator of oil and gas exploration and production, as well as domestic gas transmission through a 1,200 miles (1,900 km) onshore pipeline grid.
The Tamar gas field is a natural gas field in the Mediterranean Sea off the coast of Israel. The field is located in Israel's exclusive economic zone, roughly 80 kilometres (50 mi) west of Haifa in waters 1,700 metres (5,600 ft) deep. The Tamar field is considered to have proven reserves of 200 billion cubic metres of natural gas, while the adjoining Tamar South field has 23 billion cubic metres. Together, they may have an additional 84 BCM of "probable" reserves and up to 49 BCM of "possible" reserves. At the time of discovery, Tamar was the largest find of gas or oil in the Levant basin of the Eastern Mediterranean Sea and the largest discovery by Noble Energy. Since Tamar's discovery, large gas discoveries have been made in other analogous geological formations dating back to the Oligocene–Miocene epoch in the Levant basin. Because Tamar was the first such discovery, these gas containing presalt formations have become collectively known as Tamar sands.
The oil and gas industry plays a central role in the economy of the United Kingdom. Oil and gas account for more than three-quarters of the UK's total primary energy needs. Oil provides 97 per cent of the fuel for transport, and gas is a key fuel for heating and electricity generation. Transport, heating and electricity each account for about one-third of the UK's primary energy needs. Oil and gas are also major feedstocks for the petrochemicals industries producing pharmaceuticals, plastics, cosmetics and domestic appliances.
Essar Energy plc is Mauritius-based Indian energy company with assets in the power and oil and gas businesses. Headquartered in Port Louis, Mauritius and subsidiary of Essar Group, the firm has interests in both the power generation and petroleum industries. In May 2014 the company was acquired by its majority shareholder, Essar Global Fund Limited.
The Leviathan gas field is a large natural gas field in the Mediterranean Sea off the coast of Israel, 47 kilometres (29 mi) south-west of the Tamar gas field. The gas field is roughly 130 kilometres (81 mi) west of Haifa in waters 1,500 metres (4,900 ft) deep in the Levantine basin, a rich hydrocarbon area in one of the largest offshore natural gas field finds. According to some commentators, the gas find has the potential to change Israel's foreign relations with neighboring countries, including Turkey, and Egypt. Together with the nearby Tamar gas field, the Leviathan field was seen as an opportunity for Israel to achieve energy independence in the Middle East.
Aphrodite gas field is an offshore gas field off the southern coast of Cyprus located at the exploratory drilling block 12 in the country's maritime Exclusive Economic Zone and bordering the Yishai gas field, located in Israeli territorial waters. Located 34 kilometres (21 mi) west of Israel's Leviathan gas field, block 12 is believed to hold 3.6 to 6 trillion cubic feet of natural gas. In 2014, the reserve estimate for the quantity of natural gas held by Aphrodite was raised by 12% due to new data received from the Yishai prospect as reported by Delek Drilling to the Israel Securities Authority. The cost of the field's development was estimated to range from $2.5 billion to $3.5 billion.
Isramco Negev 2 LP (TASE: ISRA.L) is an American Israeli publicly traded master limited partnership that holds interests in oil and gas properties in Israel. The partnership shares are traded on the Tel Aviv Stock Exchange and have been a constituent of the TA-35 Index since January 2010. The partnership was founded by Isramco Inc. and other parties in 1989.
Yitzhak Tshuva is an Israeli billionaire businessman. He is the founder of El-Ad Group, a real estate development and holding company, which owned the New York Plaza Hotel. He also owns the Israeli conglomerate Delek Group. As of July 2024, Forbes estimated his net worth at US$4.3 billion.
The Rosebank oil and gas field lies west of Shetland. It is operated by Equinor; Suncor and Siccar Point Energy. The discovery well was drilled in 2004. A final investment decision for Rosebank was planned to be taken by May 2022. In 2022, Siccar Point Energy was acquired by Ithaca Energy, a daughter company of Delek Group.
The Anglia gas field, is a natural gas field in the United Kingdom's continental shelf of the Southern North Sea. It is located in blocks 48/18 and 48/19 about 60 km (37 mi) east of the Lincolnshire coast. The reservoir is located at a depth of approximately 8,500 feet (2,600 m) subsea. The field was discovered in February 1972. Detailed seismic and appraisal well work were conducted in 1984. The reservoir was estimated to have 235 billion cubic feet of gas in place.
Energean plc is an international hydrocarbon exploration and production company, with a focus on natural gas. It is listed on the London Stock Exchange as well as the Tel Aviv Stock Exchange and is a constituent of the FTSE 250 Index.
Yossi Abu is an Israeli businessman. He is chief executive officer of NewMed Energy of the Delek corporation. He was an adviser of Minister of Finance, Roni Bar-On.
NewMed Energy (TASE: NWMD), formerly Delek Drilling, is an Israeli energy oil & gas partnership in the exploration, development, and production of natural gas and oil. Delek group owned by Yitzhak Tshuva, is the controlling shareholder of the partnership. The partnership is traded on the Tel Aviv Stock Exchange and is part of the TA 35 Index.
Navitas Petroleum is a publicly traded oil and natural gas exploration and production partnership focused on North America. Navitas is listed on the Tel Aviv Stock Exchange and is part of the Tel-Aviv 125 index, which includes the largest traded companies in Tel Aviv. The company has offices in Herzliya, Israel, Houston, Texas, and London, UK.
Harbour Energy plc is an oil and gas company based in London, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Cambo oil field is a prospective oil and gas field in the North Atlantic, 125 kilometres (78 mi) north west of the Shetland Islands, United Kingdom. The field is in a deep section of water, some 3,440–3,610 feet (1,050–1,100 m) below sea level. Development of the field has led to criticism from green campaign groups stating it goes against the United Kingdom's reduction in carbon emissions. The project has the potential to deliver millions of barrels of oil and over 53 billion cubic feet (1.5×109 m3) of gas.
NEO Energy is a UK-based offshore oil and gas company operating on the United Kingdom Continental Shelf in the North Sea. It was founded in July 2019 and is backed by the Norwegian private equity firm HitecVision, which merged it with Verus Petroleum, another of its UKCS oil and gas producers, in October that year. NEO Energy produced 80,999 barrels of oil equivalent on average per day in 2022. The company has been described as part of a group of new entrants to the UK offshore industry following the 2014 price crash, with others including Neptune Energy, Harbour Energy's Chrysaor, Zennor Petroleum, and Ithaca Energy-owned Siccar Point Energy. It was listed by Grant Thornton's 2024 Scotland Limited report as the highest-earning private company in Scotland in 2024 before interest, tax, depreciation and amortisation (EBITDA), up from 26th the previous year, and the second-highest by turnover. It did not appear in the top five companies by number of employees.