Ithaca Energy, of Aberdeen, has decided to forge ahead with a £400 million project to boost output from a UK North Sea oilfield.
Phase two of the enhanced oil recovery (EOR) programme on the Captain field aims to recover around 40 million barrels of oil equivalent.
Bosses at Ithaca said investing in the project demonstrated the firm’s commitment to the UK North Sea, where investment decisions on new projects have been few and far between amid the latest downcycle.