Enegi outlines Fyne project timeline

Enegi Oil and partner Antrim Resources (N.I) expect to submit an environmental statement by the end of March for the Fyne field in the UK central North Sea.

Offshore staff

MANCHESTER, UK – Enegi Oil and partner Antrim Resources (N.I) expect to submit an environmental statement by the end of March for the Fyne field in the UK central North Sea. They plan to develop the field using an unmanned production buoy.

Assuming approval from Britain’s Department of Energy and Climate Change (DECC), the partners should submit the final form of the field development plan to the DECC in late summer.

At this point, any technical issues must be resolved, evidence of suitable financing must be provided, andAntrim must be approved as a production operator. First production is expected before Nov. 25, 2016, a timeline that has been agreed with the DECC.

Alan Minty, CEO of Enegi, said: “We look forward to working with Antrim and taking Fyne forward through to first oil using ABT Oil & Gas’s appropriate technology as well as commencing our activities in the North Celtic Sea and applying forfurther opportunities in the (UK’s) 28th round.

“We also welcome the findings of the Wood Review announced yesterday…this review mirrors the objectives of our marginal field initiative. Through ABT Oil and Gas we are identifying low risk marginal fields which are unable to be developed using conventional development solutions. Using our appropriate technologies, working with industry operators, we believe that we can maximize the recovery from these assets in the UKCS and internationally.”

02/25/2014

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