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Antrim pushes ahead in North Sea

Antrim pushes ahead in North Sea
ANTRIM Energy, the Canadian oil and gas operator which focuses on the UK North Sea and Argentina, reported yesterday that it was continuing to progress its two major projects in the North Sea.

ANTRIM Energy, the Canadian oil and gas operator which focuses on the UK North Sea and Argentina, reported yesterday that it was continuing to progress its two major projects in the North Sea.

These are Fyne, Antrim-operated with a 75% interest, and Causeway, also Antrim-operated, with a 65.5% stake.

It said a field development plan (FDP) for the 20million-barrel Fyne oil field was being prepared and it was in the process of finding a partner to help in funding the development.

The company also said it would submit a revised FDP for Causeway with the objective of tying into existing subsea facilities adjacent to the Dunlin platform, which would provide significant cost savings.

Antrim, whose production so far is from Argentina, said its average production there increased to 1,677 barrels of oil equivalent per day (boepd) in the six months to June 30. But revenues fell to £3.2million for the six months to June 30 compared to £3.63million a year earlier.

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