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

Ithaca Energy shares
ITH,
+6.62%
climbed 5% as the U.K. government approved the Rosebank offshore development off Scotland in a controversial decision. Equinor
EQNR,
+1.24%,
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,
-1.61%,
Odjfell Drilling and Altera were awarded contracts, the companies said.