Shares in EnergyPathways PLC (AIM:EPP) rose 13% on Monday after the energy transition group announced it had awarded a key contract to Zenith Energy for its flagship MESH project in the Irish Sea.
Zenith, one of the UK’s largest independent well engineering and project management firms, will act as well operator for the firm's subsidiary, EnergyPathways Irish Sea Limited.
The role includes overseeing drilling and completion design, planning and regulatory submissions, procurement of key materials, rig selection and site preparation, and eventual well execution for the Marram development.
The appointment marks a significant step forward for the MESH programme, which aims to unlock domestic gas resources in the Irish Sea as part of the UK’s energy transition strategy.
EnergyPathways said the agreement gives it access to extensive expertise and operational support as it moves toward execution.
In late morning trading, the shares were up 0.65p at 5.6p.