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 readLast updated: January 20, 2026

Published by Global Banking and Finance Review
Posted on November 19, 2025
1 min readLast updated: January 20, 2026

Ithaca Energy has acquired a 50% stake in the Tobermory gas discovery from Shell UK, enhancing its operations in the West of Shetland basin.
(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)
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.
A gas discovery refers to the identification of a new natural gas reservoir, typically through exploration activities such as drilling.
A stake in an energy project represents ownership interest in the project, allowing the stakeholder to share in profits and decision-making.
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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