The field will be developed using a floating production, storage and offloading (FPSO) vessel, which will be mobilized to the Athena field at the end of third quarter of 2011.
The Athena Field is situated in Block 14/18b in the Outer Moray Firth area of the UK Continental Shelf.
Ithaca operates the field with a 22.5% interest while the other co-venturers in the field are Dyas UK, EWE Aktiengesellschaft and Zeus Petroleum with 47.5%, 20% and 10% interest respectively .
Earlier, the field has been appraised and three of the suspended appraisal wells will be completed for production (using downhole pumps) along with one new production well and one new water injector.
Ithaca has also signed a letter of award with Transocean subsidiary Applied Drilling Technology International for provision of drilling management services and for the supply of the Sedco 704 semi-submersible drilling rig.
The rig will be available from the end of 2010 and the drilling and completion program is expected to last approximately 180 days.
