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    Changes to windfall tax could make North Sea 'uneconomical'- Ithaca chairman

Summary

Any changes to Britain's oil and gas windfall tax law that would remove incentives to invest in the North Sea would make field developments in the ageing basin "uneconomical," the chairman of newly-listed Ithaca Energy said on Wednesday.

by: Reuters

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Complimentary, Natural Gas & LNG News, Europe, Political, News By Country, United Kingdom

Changes to windfall tax could make North Sea 'uneconomical'- Ithaca chairman

LONDON, Nov 9 (Reuters) - Any changes to Britain's oil and gas windfall tax law that would remove incentives to invest in the North Sea would make field developments in the ageing basin "uneconomical," the chairman of newly-listed Ithaca Energy said on Wednesday.

Speaking to Reuters, Gilad Myerson said that the company plans to move to a new phase of field development and it plans to make a final investment decision on the Cambo field in 2023. (Reporting by Ron Bousso. Editing by Jane Merriman)

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