Ithaca hits Athena problems

By IAIN EASAU London

 28 June 2012 22:59 GMT

DUAL-listed junior Ithaca Energy has hit production problems on its Athena project in the UK North Sea, with one of the field’s four production wells being shut-in after the downhole failed to flow.

In addition, the company, which trades its shares in Toronto and London, has been subject to production downtime on the Beatrice, Jacky and Cook fields in UK waters.

Athena came on stream late last month through BW Offshore’s Athena floating production, storage and offloading vessel, which is said to be performing as expected. However, only three production wells are flowing with output from the fourth well not possible because of a “suspected downhole restriction”.

Ithaca said testing showed “there are no issues with the integrity of the well or performance of the reservoir…

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