Ithaca Energy plc (ITH)

Profile

https://www.ithacaenergy.com

Ithaca Energy plc is a leading independent oil and gas company focused on exploration, development, and production in the UK North Sea. Founded in 2004, it has grown rapidly through strategic acquisitions, including the transformative Business Combination with Eni UK completed in October 2024, positioning it as the largest operator by resources and second largest independent by production in the UK Continental Shelf. The company holds stakes in six of the ten largest fields, as well as major developments like Rosebank (20% non-operated) and Cambo (70% operated), spanning the Northern and Central North Sea, Moray Firth, and West of Shetland areas. Headquartered in Aberdeen, Scotland, with a registered office in London, Ithaca Energy plc operates as a subsidiary of the Israeli-owned Delek Group, which retains majority ownership. It emphasizes sustainable operations, targeting net zero emissions ahead of industry benchmarks, while contributing to UK energy security amid the energy transition. Formerly Delek North Sea Limited, the company plays a pivotal role in balancing domestic energy needs with environmental responsibility through innovative and efficient practices.