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SubseaZone.com is the source for active
and forecasted subsea information. This data is brought to you in conjunction with
Quest Offshore.
To learn more about the Quest Subsea Database,
click here.
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This is just a small sample of the information available. To learn more about the
data products offered within this site, click here.
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ANTRIM, VALIANT TO INSTALL FIONN SUBSEA FACILITIES IN 1H 2012 |
| Antrim Energy Inc. signed an agreement with Valiant Petroleum plc to proceed with early installation of subsea facilities for the development of the Fionn Field in the UK Northern North Sea block 211/22a South East Area. Antrim holds a 35.5% working interest the block.
Under the terms of the agreement, various subsea facilities will be installed during the first half of 2012 coincident with the installation of facilities for the Causeway Field as a pre-investment for the future tie-in of the Fionn Field in order to minimize development costs. Valiant has agreed to finance Antrim’s working interest share of the Fionn Field pre-investment costs. Antrim has the option for three months following first oil production from the Causeway Field to opt out of participating in the Fionn Field development, or to confirm its participation in the Fionn Field development by paying its 35.5% working interest share of the pre-investment costs plus interest in respect to... |
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