Project Profile
Value: Undisclosed
Location: Celtic Sea Basin, Mizzen Basin, Ireland
Production: Unknown
Reserves: 1 billion BOE
Water Depth: 160 metres
Start-up Year: -
The Mizzen Basin is located within the Celtic Sea Basin in water depths of up to 160 metres. The licensing option of Fastnet Oil & Gas covers blocks 55/14 and 55/15 and part blocks 55/9 and 55/10 in the South Celtic sea basin. The basin offers an opportunity to develop an oil play incorporating all the elements of a working petroleum system tested in adjacent areas offshore Ireland and in the analogous Flemish Pass, Orphan and Jeanne D\'Arc basin offshore eastern Canada. Based entirely on internal estimates, that this licence area could represent as much as 1 billion BOE. Currently, there are no wells in the application area and the deep seismic data quality available is very poor with no obvious seismic reflectors. Fastnet has been awarded an 18 month licensing option, during that period the New Board\'s initial intention is to purchase and reprocess a minimum of 550km of existing 2D seismic data. Subject to results, Fastnet would move to acquiring 3D seismic data and proceed to apply for an exploration licence.
Operators:
Fastnet Oil & Gas: Operator with 100% interest
Contractors:
CGG: Seismic contractor