The Fyne oil field is located in Block 21/28a, within the P077 licence, at a water depth of about 90m in the Central North Sea, UK. First oil from the field is expected to be achieved in November 2016 and the oil field is expected to produce 10.6million barrels of oil per year initially.
Antrim Energy wholly owns the offshore oil project. The company acquired 75% licence rights of Block 21/28a in 2006, and later acquired the remaining 25% share from First Oil Expro.
The Environmental Impact Assessment (EIA) report for the project is expected to be submitted to the Department of Energy and Climate Change (DECC) by end of March 2014.
ABT Oil and Gas, a joint venture (JV) of Enegi Oil and ABTechnology (ABT) signed a Heads of Agreement (HOA) with Antrim Resources in May 2013, to prepare a Field Development Plan (FDP) for the field, suggesting an option of implementing the ABT buoy technology.
The JV plans to acquire 50% share in the field following the approval of the FDP by the UK Department of Energy and Climate Change (DECC). Antrim Energy will, however, continue to be the operator thereafter. The field development plan is expected to be submitted by August 2014.
Fyne oil field discovery, reserves and geology
The field, discovered in 1987, is estimated to have proven and probable reserves of about 10million barrels with an oil API gravity of 25°. The oil is located within the Eocene aged Tay sandstone reservoir.
Details of the Fyne oil field development project
Antrim drilled the 21/28a-9 and 21/28a-10 pilot wells and -9X, -9Y and -10Z sidetrack wells in 2008. The wells flowed at test rates of up to 4,000 barrels of oil per day.
Antrim and Premier Oil UK signed an agreement in October 2010 to jointly explore the development options for the field. The two companies jointly drilled the East Fyne well (the 21/28a – 11 well) using the Sedco 704 rig in May 2011.
Antrim Energy earlier planned to use the Hummingbird Spirit Floating Production, Storage and Offloading Vessel (FPSO) for the development of the Fyne offshore field. The company signed a Heads of Terms (HOT) agreement with Hummingbird Production, a subsidiary of Teekay Corporation, in November 2012 with an option to lease the Hummingbird Spirit FPSO. Antrim, however, decided not to proceed with the FPSO project in early 2013 due to increasing project cost and decided to seek a lower-cost alternative. The option for the use of the ABT buoy technology was proposed in March 2013.
The ABT unmanned buoy facility will be equipped with production and processing equipments. The produced oil from the field will be transported by tankers for further exportation.
The development of the Central North Sea oil field will include drilling of two oil producer wells and one water injection well, and construction of subsea associated infrastructure.
Wood Group was contracted by ABT to perform pre-front end engineering and design (FEED) studies to complete the field development plan and gain environmental approvals.