Ithaca Energy makes new discovery

North Sea oil and gas explorer Ithaca Energy yesterday announced that it has discovered hydrocarbons at a Norwegian appraisal well in the Norvarg discovery area. The firm also said that it has been awarded a licence extension on the Norwegian Continental Shelf, where the Norvag discovery is located. The Aim-listed company has partnered with oil explorers Total E&P Norge, North Energy, Statoil, Det Norske and Rocksource Exploration Norway on the drilling licence.