Ithaca signs farm-in agreement with Shell for Tobermory discovery in UK

UK-based oil and gas operator Ithaca Energy has signed a farm-in agreement with Shell UK for a 50% working interest in licences P2629 and P2630 containing the Tobermory gas discovery in the West of Shetland basin. Upon completion of the farm-in agreement, Shell UK will continue to hold a 50% stake in the Tobermory discovery and serve as the licence operator. The company said that the agreement builds on its investment strategy for the West of Shetland basin. Ithaca Energy also stated that this move posi ...