ITHACA Energy is set to more than double spending in the UK North Sea to $360m (£225m) this year as the company prepares to join the ranks of firms bringing big fields onstream.
Aberdeen-based Ithaca said the bulk of the money is earmarked for work on the Greater Stella development, approximately 238km south-east of Peterhead, which is expected to come onstream in 2014.
The investment will fund work on development wells and associated production infrastructure.
We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis. If you're a relatively new user then your comments will be reviewed before publication and if we know you well then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules, which are available here.
Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.
