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Subject to regulatory approval, Ithaca will own 85% of the field and increase its proven and probable (2P) reserves by 23mn barrels of oil equivalent and its daily output by about 13,000 boe/d this year. Ithaca said it saw the potential for significant upside potential through further infilldrilling beyond the next three approved wells.
The field is currently being developed through three production wells ensuring a stable output of 8,500 barrels of oil equivalent per day (boe/d) with an upstanding ramp-up in less than four months.
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