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Ithaca Energy’s Stella field start-up delayed until January

Friday, November 25, 2016 8:25
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Ithaca Energy Plc (LON:IAE) has told investors that the Stella field start-up been delayed due to problems found on the floating production facility.

Routine inspections uncovered a number of faults on a number of electrical junction boxes on the vessel’s processing facilities, and a programme of repairs is now underway.

Stella’s ‘first oil’ was slated for the end of November, but the company says start up is now anticipated in early January.

Chief executive Les Thomas said: “The safety and integrity of the facility is paramount and we must ensure that everything is done meticulously in advance of the introduction of hydrocarbons into the facility. 

“Although any delay to start-up at this stage is frustrating, the value of a thorough inspection programme has been proven and we look forward to completion of this work and the imminent start-up of production.”

Story by ProactiveInvestors


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