Ithaca Energy to Buy Summit E&P, as Sumitomo Exits UK’s Upstream Oil & Gas Sector

“Sumitomo’s path to lower carbon energy will continue with the divestment of Summit Exploration and Production Limited, where a Sales and Purchase Agreement was signed on 28th February by Sumitomo Corporation and Ithaca Energy .

John Austin, CEO of Summit E&P Ltd, said: “Summit E&P has been refocusing its interest over the last two years, away from fossil fuels and towards the new low carbon energy systems which are rapidly developing in the UK.

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