According to partnerFastnet Oil & Gas, the FA-1 well will target the Eagle prospect, estimated to hold Pmean resources of 360 MMboe in the primary deepwater Lower Cretaceous reservoir objective. Water depth is around 600 m (1,968 ft).
It will also target secondary objectives that could provide additional upside in the event of a discovery.
The well is estimated to take up to three months to reach the planned TD of 4,000 m (13,123 ft).
Following a farm-out agreement completed in December, Fastnet is carried for past costs and for FA-1 up to a gross well cost of $100 million.