Project Profile
Location: Greater Fyne Area, North Sea, UK
Reserves: 80 MMBO (mean STOIIP) and 23 MMBOmean prospective resources
Start-up Year: 2014
The 21/28b-Carra prospect has dual objectives in the Eocene Tay and Eocene Cromarty reservoirs. Both prospect targets are 3-way dip closures with stratigraphic pinchout to the west. Both targets have strong seismic amplitude anomalies. The Tay anomaly is comparable to that seen in the Mid Tay reservoirs in the Fyne Field where drilling has demonstrated a correlation between amplitude and reservoir sand development. A possible flat-spot is observed over a portion of the structure, where it is believed the reservoir reaches critical thickness for this phenomenon to be observed. This level may correlate with structural spill point. Rock physics modeling at offset wells has been carried out and the response predicted is consistent with the seismic data. The Carra prospect has two principle targets: the Middle Tay sandstones and the deeper Cromarty or “Sele equivalent” sandstones. Both are identified in offset wells. There is also a possibility of hydrocarbons in the Upper Tay (cf West Guillemot). The Middle Tay target has a mean STOIIP of 80 MMBO with mean prospective resources of 23 MMBO. The deeper Cromarty reservoir target has a mean STOIIP of 50 MMBO and a mean prospective resource of 12 MMBO. These STOIIP and resource estimates are internal estimates, unrisked.
Elsewhere on Block 21/28b, there other smaller prospects recognized within the prospective Upper and Middle Tay level, and Upper Jurassic Fulmar leads are also identified. Antrim recognises both Tay Formation and Lista/Forties prospects in adjacent Block 21/29c to the east (also part of licence P.1563). The adjacent Block 21/24c to the north (25th Round Licence P.1700) also contains a Tay anomaly. Both these blocks are being evaluated for possible drilling locations. The recently awarded 26th Round Block 21/29d is also believed to have significant Tay Formation potential. In summary, the 21/28b - Carra Prospect is a medium to low risk opportunity to discover medium gravity (24 - 30o API) oil reserves and extend a proven play between the producing Guillemot trend and the soon to be developed Fyne Field (only 3.5 kms to the NW).
(Target Well Depth: 6,000 feet TVDSS to fully evaluate the shallow & deeper anomalies. Antrim farmed down 50% of the Erne Prospect (primarily located in Block 21/29d) to Premier Oil in April 2011. Drilling began in November 2011).
Operators:
Antrim Energy Inc.: Operator with 50% working interest as of July 2013
Joint venture partners with 50% interest:
Enegi oil
ABTechnology
(First Oil Expro: 25% interest sold to Antrim May 2012 and Premier Oil: 39.9% interest sold to Antrim April 2012)
Contractors:
AGR Well Management Limited: Project management and drilling services
Hummingbird Production Limited: Lease the \'Hummingbird Spirit\' FPSOffloading vessel
McDaniel and Associates Consultants: Reserve estimate
Wood Group: Contract to conduct FEED (front-end engineering design) work for the Fyne oilfield
Offshore Installation Services Ltd.: Contract to permanently plug and abandon Antrim’s four suspended subsea wells in the United Kingdom Central North Sea. The Contract includes the permanent abandonment of the three suspended wells on the Fyne Licence (P077, Block 21/28a). The contract is expected to be executed as part of a ten well abandonment campaign including six Central North Sea wells from another operator. The planned mobilization date for the campaign is currently July 8th, 2015 and the ten well campaign is scheduled to take approximately 45 days to complete.