Ithaca Energy adds 50% stake in Tobermory discovery

Ithaca Energy signed a farm-in agreement with Shell for a 50% working interest in licenses P2629 and P2630 in the West of Shetland basin. The acreage contains the Tobermory gas discovery, which forms part of a developing gas hub in the region.

The farm-in builds on its existing 50/50 partnership with Shell in the nearby Tornado discovery, expanding the companies’ collaboration across the area’s emerging gas projects. Tobermory sits near other gas accumulations and planned infrastructure in the basin, forming a key component of broader hub-development planning.