Ithaca Energy Projects Boosted 2025 Output with New UK Assets

Ithaca Energy, a North Sea oil and gas company, forecasts higher production for 2025, driven by new UK assets acquired from Eni. Expected production is set between 105,000-115,000 barrels of oil equivalent per day, up from 80,200 boepd last year. However, profits fell significantly from the previous year.

Ithaca Energy, the North Sea oil and gas company listed in London, announced on Wednesday a promising projection for its 2025 production levels. This optimistic outlook is largely attributed to the recently acquired UK assets from Eni.

The company is projecting full-year production for 2025 to reach between 105,000 and 115,000 barrels of oil equivalent per day, a noticeable increase from the 80,200 barrels it produced last year.

Despite the positive production forecast, Ithaca Energy reported a decline in its full-year profit after tax, which fell to $153.2 million, compared to $292.6 million the previous year.

(With inputs from agencies.)