RHEP12 Jan 2011 08:52
John Woods, Ithaca's Chief Development Officer, commented:
"The drilling programme at Athena has commenced on schedule enabling the rig to complete its scope of work ahead of other field construction activities. Work on the Athena field remains very much in line with targeted first production from the field in Q4 this year at a gross rate of 22,500 barrels of oil per day. Work on the FPSO in Dubai and the other project construction activities have also all commenced on schedule and within budget giving the project team an excellent start to the New Year."
The Athena Joint Venture Partners are Ithaca (operator, 22.5%), Dyas UK Ltd (47.5%), EWE Aktiengesellschaft (20%) and Zeus Petroleum Limited (10%).
In accordance with AIM Guidelines, Lawrie Payne, MA Marine Geology (Alberta & Columbia) and Chairman of Ithaca Energy is the qualified person that has reviewed the technical information contained in this press release."