Contractors Unlimited

First Oil Achieved by Wood Group's Duty Holder Operation in the North Sea

Wood Group First oil has been achieved on the Jacky oilfield and production has been restarted on the Beatrice Bravo facility. Wood Group Engineering (North Sea) Ltd is Duty Holder for Ithaca Energy (UK) Limited, licencee for the Beatrice offshore facilities and the Nigg onshore terminal.

Initial production rates from the Jacky well and the Bravo facility are in line with expectations. Stabilised rates will be established and announced shortly. It is anticipated that Jacky and Beatrice production will average approximately 10,000 bopd gross during the course of 2009.

Evaluation of the Jacky and Bravo's performance will lead to a decision, during 2009, on further investment in wells and facilities.

Ithaca Energy is a Canadian oil and gas exploration and development company with offices in Calgary, Canada, London, England and Aberdeen, Scotland, which is focused on the exploration and development of oil and gas reserves in the North Sea on the United Kingdom's Continental Shelf.

The Jacky field was discovered in April 2007 and development approval was granted by the UK authorities in November 2008. This field is located in Block 12/21c in the UK Continental Shelf, approximately 12 miles from the Moray Firth coastline and 6 miles from the Beatrice oilfield. Co-venturers in Jacky are Ithaca Energy (UK) Ltd (67.275%) Dyas UK Limited (22.725%) and North Sea Energy (UK) Limited (10%).

Posted 06/04/09

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