Ithaca Energy has this morning confirmed its promotion to the FTSE 100 Index, effective September 21.
The promotion sets up opportunities for fresh investment and comes as Ithaca looks to advance more than 200 million barrels of new North Sea resources.
Executive Chairman Yaniv Friedman commented: "We're very pleased to be entering the FTSE 100, reflecting ongoing efforts of optimisation, growth and delivery of shareholder value.
"We welcome the opportunities our updated position unlocks, including being introduced to a new pool of potential investors, with whom we look forward to engaging."
Last month, Ithaca published its half-year results as it looks to advance more than 200 million barrels of new North Sea resources towards potential investment decisions, including the Cambo field.
The energy giant achieved record quarterly production in Q2 of 131 kboe/d, reaffirming its full year guidance, and announced an upgraded dividend guidance of $500-530million for FY 2026, with first interim dividend of $255million.
The results also provide an update on Rosebank, which is entering its final execution phase with the operator narrowing the first production window to H1 2027.
Ramp up to production plateau is then expected through the summer of 2027.
Cambo has also now entered the value engineering and pre-execution phase moving the project towards sanction in 2027.
Including Rosebank and Cambo, Ithaca is advancing more than 200 million barrels of oil equivalent of organic growth opportunities towards potential investment decisions in 2026 and 2027.
FSTE100
The UK's flagship share index, the FTSE 100, was up 5 points at 10,767 shortly after opening this morning.
Brent crude oil futures were down 0.78%, sitting at $94.88 a barrel this morning.
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