The company taking control of the controversial Cambo oil field in Scottish waters says it is "in a better position" to secure the go-ahead for production to begin.
The West of Shetland field still needs formal approval for development, having been granted a two-year licence extension in March.
Cambo became the focus of environmental protests at the UN's COP26 climate-change conference in Glasgow last year.
But, just last month, the North Sea oil and gas industry received a major boost with confirmation the sector is to play a major role in Britain's plans for greater energy independence.
The UK Government's new energy-security strategy sets out how the country will accelerate deployment of wind, new nuclear, solar and hydrogen, whilst supporting the production of domestic oil and gas in the nearer term.
Ithaca Energy chief executive Alan Bruce believes Cambo would pass a "climate-compatibility checkpoint" which the UK Government is planning to introduce - although the test would not cover already-licenced areas like Cambo.
He told the BBC: "It feels like we're in a better position to consider all of the projects a bit more holistically.
"A lot's happened since last year of course and, in my mind, I feel like the debate has matured a little bit in terms of people having maybe a broader understanding of all of the dimensions that are important from an energy-security perspective.
"So, I would say now we're having a more-rounded debate about all of the projects that exist."
Ithaca is acquiring a 70% stake in Cambo with the purchase of Siccar Point Energy.
The field is thought to contain up to 170million barrels of recoverable oil.
The deal to buy Siccar at a cost of £1.1billion is expected to be completed next month.
Ithaca says it has not yet had discussions with Cambo's minority stakeholder, Shell.
Last December, Shell said the economic case - along with possible regulatory delays - meant it was withdrawing from Cambo.
However, two months ago, the BBC reported that Shell was reconsidering its decision to pull investment from the field following the surge in the oil price.
John Underhill, director of the Centre for Energy Transition at Aberdeen University, told the BBC that rising bills mean more people are aware of where our energy comes from.
He added: "That all plays into, perhaps, that Cambo is in a far better place than it was.
"I'm not saying that the lightning rod that Cambo was, and potentially still is, has gone away, not at all.
"Other fields that are progressing now haven't got the same emotion and attention and polarised views attached to them."
Companies reporting today
- Full-year results: Marks & Spencer, Mediclinic International, Pets at Home, Severn Trent, SSE
- First-quarter results: NVIDIA
- Trading update: Intertek