Ithaca Energy, an UK independent exploration and production company, completed the acquisition of the remaining 30% stake in UK Cambo field from Shell, an oil and gas company, for $78m. “We are pleased to announce the completion of this acquisition, taking our ownership of Cambo to 100%. Following completion, we are now in a stronger position to engage with potential farm-in partners to enable the future progression of the project to Final Investment Decision. As the second largest undeveloped oil and gas discovery in the UK, we believe that Cambo has an important role to play in providing critical energy security to the UK, while reducing the UK’s overall emissions intensity," Alan Bruce, Ithaca Energy CEO.