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    Home > Finance > UK's Ithaca Energy buys 50% stake in Tobermory gas from Shell UK
    Finance

    UK's Ithaca Energy buys 50% stake in Tobermory gas from Shell UK

    Published by Global Banking and Finance Review

    Posted on November 19, 2025

    1 min read

    Last updated: January 20, 2026

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    Tags:oil and gasinvestment

    Quick Summary

    Ithaca Energy has acquired a 50% stake in the Tobermory gas discovery from Shell UK, enhancing its operations in the West of Shetland basin.

    Ithaca Energy Acquires Half Stake in Tobermory Gas from Shell UK

    (Reuters) -North Sea oil and gas company Ithaca Energy announced on Wednesday an agreement with oil major Shell UK to buy a 50% interest in Tobermory gas discovery, located in the West of Shetland basin, offshore Scotland.

    (Reporting by Simone Lobo in Bengaluru)

    Key Takeaways

    • •Ithaca Energy acquires 50% of Tobermory gas discovery.
    • •The deal is made with Shell UK.
    • •Tobermory is located in the West of Shetland basin.
    • •The acquisition strengthens Ithaca's North Sea presence.
    • •Reported by Simone Lobo in Bengaluru.

    Frequently Asked Questions about UK's Ithaca Energy buys 50% stake in Tobermory gas from Shell UK

    1What is Ithaca Energy?

    Ithaca Energy is a North Sea oil and gas company that operates in the UK continental shelf, focusing on the exploration and production of hydrocarbons.

    2What is a gas discovery?

    A gas discovery refers to the identification of a new natural gas reservoir, typically through exploration activities such as drilling.

    3What is a stake in an energy project?

    A stake in an energy project represents ownership interest in the project, allowing the stakeholder to share in profits and decision-making.

    4What is the West of Shetland basin?

    The West of Shetland basin is a significant area for oil and gas exploration located offshore Scotland, known for its potential hydrocarbon reserves.

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