Mr Myerson said: “As a country we just have to make sure that what we do, we do for the good of the United Kingdom and our citizens, so that they can have plenty of critical input. [energy] safety at lower emissions. “I met Quasi a few days ago and had discussions with some other politicians – and I think they are coming to that [energy strategy] with a very balanced approach and we want to be part of this debate. “ Ithaca, which is part of the Israeli energy group Delek Group, said in a statement on Wednesday that Cambo and Rosebank could “make a significant contribution to the UK’s energy security”. It plans to talk to regulators and partners before the final investment decision this year. Campo, about 78 miles northwest of Shetland, is expected to produce 170 million barrels of equivalent oil over its 25-year lifespan. Indicating that the dispute over the field has not disappeared, however, activists reacted, with Greenpeace arguing that Cambo oil “could not be processed at UK refineries” and thus “would not improve the energy security of the United Kingdom “. Ithaca said it was “wrong that Cambo oil could not be processed by any UK refinery”, adding: “In addition, much of the UK’s North Sea oil production going abroad for refining eventually returns we import products “. Ithaca declined to give further details about the discussions with Mr Kwarteng, saying they were confidential. The government said the development of the Cambo was “a commercial decision for the companies involved and is not a matter for the government to comment on”.
Cambo oil field back in the game as manufacturer sells for $ 1.5 billion
The company behind the North Sea Cambo oil field development plans was bought by a larger company, increasing the likelihood that the controversial project will move forward. Siccar Point Energy, which holds the field license along with oil and gas giant Shell, is being bought by Ithaca Energy, part of the Israeli energy group Delek Group, for up to $ 1.5 billion ($ 1.2 billion). billion £). In a statement Thursday night, Ithaca said the Cambo deposit gives it the opportunity to “develop areas that will make a significant contribution to the UK’s energy security”. Gilad Myerson, CEO of Ithaca Energy, said: “We will definitely look at what will be needed to develop Cambo with its partners. “We will talk to environmental groups, we will also talk to the regulators to make sure that if we move forward, we will do so in full alignment with all stakeholders. “We are trying to understand what would be the most suitable field for development in the North Sea, in alignment with all stakeholders. “Once we have this clear picture, we will make investment decisions.” The field is expected to produce 170 million barrels of oil equivalent in 25 years. Shell pulled out of growth in December, saying the economic outlook was weak amid growing hostility to fossil fuels in the wake of the Cop26 conference on climate change. Cabo became a lightning rod for criticism, with the fighters asking to be excluded. However, Shell has maintained its interest in the license and is reportedly reconsidering its decision amid growing support for domestic oil and gas production in the wake of Russia’s invasion of Ukraine. Siccar also owns holdings in the Schiehallion, Mariner and Rosebank fields, which Ithaca says were four of the UK’s largest assets out of stock.
