Ithaca Energy has disclosed significant changes to its leadership as it approaches a strategic merger with Eni’s UK upstream assets. The reshuffle involves several new appointments: Dave Blackwood will become interim non-executive chair, followed by Yaniv Friedman as executive chair. Luciano Vasques is set to become CEO, replacing interim boss Iain Lewis who will return to his CFO role. Odin Estensen and Zvika Zivlin are set to join as COO and senior independent director, respectively. The merger is expected to create the largest resource base in the UK North Sea, with anticipated dividends of $500 million in 2024 and 2025. Ithaca‚Äôs strategic moves come amid claims of significant growth in production and reserves, as well as notable financial results for Q1.

Energy, Oil & Gas, Corporate Finance,United Kingdom, North Sea

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