Local Business Petrofac sells stake in Greater Stella Area to Ithaca for up to £228 million By Allister Thomas August 24 2018, 8:09 am August 24 2018, 8:09 am Share Petrofac sells stake in Greater Stella Area to Ithaca for up to £228 million Share via Facebook Twitter Whatsapp Messenger Linkedin Email Post link https://www.pressandjournal.co.uk/fp/business/local/1547832/petrofac-sells-stake-in-greater-stella-area-to-ithaca-for-up-to-228-million/ Copy Link The FPF-1 unit, which is serving Ithaca's Greater Stella area development. Petrofac has agreed to sell its stake in the Greater Stella Area (GSA) in the North Sea to Ithaca for up to £228.3 million. The firm holds a 20% stake in the development and a 24.8% interest in the FPF1 floating production facility. The deal will see Ithaca pay an initial sum of £113 million by or upon completion of the deal, which is expected in Q1 of 2019. To read more on Energy Voice, click here.
