: Ithaca Energy shares rise after U.K. grants approval to Rosebank development

Ithaca Energy shares UK:ITH climbed 5% as the U.K. government approved the Rosebank offshore development off Scotland in a controversial decision. Equinor NO:EQNR, the majority owner, and Ithaca plan to invest $3.8 billion in the development. Recoverable resources are estimated at around 300 million barrels of oil from phase 1 and 2. TechnipFMC FTI, Odjfell Drilling and Altera were awarded contracts, the companies said.

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