Cambo Oil Field Revival Hinges on UK Fiscal Review, Ithaca Says
- Company seeks more stability on North Sea investment
- Rosebank oil and gas field just received government approval
An oil platform in the North Sea.
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Ithaca Energy Plc is awaiting the outcome of a fiscal review in the UK before committing to the development of the controversial Cambo oil field in the North Sea.
“We would like to move ahead if the environment is supportive,” Ithaca Chairman Gilad Myerson said in an interview. “More than anything we need stability and we need conviction that the fiscal environment will be a long-term one, and that it will last for at least the lifecycle of a project.”