Antrim to Submit Fyne Field FDP in January, 2013

Antrim’s work on a Field Development Plan for the Fyne Field in UK Central North Sea Licence P077 Block 21/28a is on track for submission to DECC in January 2013, the company today said.

As announced on November 13, 2012, a Heads of Terms agreement has been signed with Hummingbird Production Limited, a subsidiary of Teekay Corporation, for an option to lease the “Hummingbird Spirit” Floating Production, Storage and Offloading vessel (“FPSO”) for use in the development of the Fyne Field.

 Stephen Greer, Antrim President and CEO said that the company has made significant progress with securing an export route for oil from the 11.7 million barrel 100%-owned Fyne Field by contracting the Hummingbird FPSO.

First oil from the field is expected in the fourth quarter of 2014, depending on the timing of the redeployment of the Hummingbird Spirit from its current location.

[mappress]
December 6, 2012