Ithaca Energy Inc., an oil and gas operator focused on North Sea production, appraisal and development activities, has said it received a Statement of Claim from a law firm that advertises itself as undertaking investor lawsuits.
According to Ithaca, the Statement of Claim relates to purported misrepresentation of information regarding the past schedule for completion of the “FPF-1” floating production facility modification works being completed by Petrofac.
In its press statement, Ithaca Energy said: “The company vigorously refutes any such allegations and strongly denies any suggested wrongdoing. The Company will be taking all necessary legal measures to defend itself against the Statement of Claim.”
To remind, Ithaca’s Greater Stella Area (GSA) development, located in the UK North Sea, has been facing delays due to slow work on the “FPF-1″ floating production facility in Poland.
Although the sail-away of the FPF-1 was previously scheduled for second quarter of 2015, the latest update placed it in the first quarter of 2016, resulting in first hydrocarbons from the GSA in the second quarter of the year.