Ithaca Energy will look to plough most of its expected $70 million in capital expenditure for the year into its Greater Stella Area (GSA) development in the UK North Sea.
The London-listed company will soon start drilling on the Harrier field in Block 30/06 with the jack-up Ensco 122, which is due to arrive in April.
Drilling of a multilateral well intersecting two reservoir formations is set to be completed in the second half, with the well eventually to be tied back to the Stella field, which started producing earlier this year via the FPF-1 floating production unit.
