Ithaca appoints contractor for Greater Stalla
Ithaca Energy, the North Sea focused oil and gas company, has looked across the Channel for an engineer to build the sub-sea structures at its Greater Stella Area gas project.
Ithaca Energy, the North Sea focused oil and gas company, has looked across the Channel for an engineer to build the sub-sea structures at its Greater Stella Area gas project.
The French engineering giant, Technip, has won the $230m contract, of which Ithaca must pay $126m as the majority owner of the licence..
Mike Travis, Greater Stella Area Asset Manager, said: "Awarding a single contract to Technip for the major sub-sea activities means that we benefit from a cost effective solution as well as accessing the full resources and execution expertise of a leading contractor".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Ithaca shares were up 3.6% at 10:08.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Revolut launches its first stocks and shares ISA with BlackRock and Vanguard ETFs
A year after getting its UK banking licence, Revolut is now launching its first stocks and shares ISA with a suite of exchange-traded funds (ETFs) from BlackRock and Vanguard.
-
What does Trump’s ‘Big Beautiful Bill’ mean for the US economy?
Donald Trump’s budget bill will slash taxes, but is expected to add at least $3 trillion to US national debt