Project Profile
Value: Undisclosed
Location: 56/6, 56/7, 56/8, 56/9, 56/11, 56/12, 56/13 and 56/14 blocks, Mizzen basin, western end of the North Celtic basin, off the coast of Ireland
Area: 1,155 square kilometres
Water Depth: 130 metres
Start-up Year: -
Fastnet Oil & Gas has been awarded a licensing option covering several part blocks off the coast of Ireland. Fastnet will take a 100% interested in licensing option 13/3 which covers part blocks 56/6, 56/7, 56/8, 56/9, 56/11, 56/12, 56/13 and 56/14 in the Mizzen basin and the western end of the North Celtic basin. The initial 18 month work programme over the licensing option, which has now been named the East Mizzen licensing option, will see Fastnet reprocess a minimum of 400 kilometres of existing 2D seismic. The East Mizzen licensing option acreage lies in water depths of up to 130 metres and covers an area of 1,155 square kilometres. Depending on the results of the initial work programme, the company will then have the option to agree a further work programme where it will acquire new 3D seismic during an 18-month extension to better define the size of traps tested by previous wells on the acreage. The 56/12-1 well was drilled by Esso and Marathon in 1975 to test large structural closures at the Base Chalk, Base Kimmeridgian unconformity and within the Lower Jurassic and Triassic.
The well was drilled to a depth of 8,773 feet but failed to reach the base of the Cretaceous, with analysis of the well and 2D seismic acquired much later after drilling showing the well was drilled off-structure. The two large structural culminations were mapped to the north-west and east of 56/12-1 which could be prospective for the same basal Cretaceous sands that were encountered in the well. Fastnet is already in the process of shooting 3D seismic over its Deep Kinsale asset which will be followed by another 3D shoot on its Mizzen licensing option in the North Celtic Sea. Following the completion of the seismic programme over Deep Kinsale, the seismic vessel will move to the Mizzen and East Mizzen licensing options to acquire a contiguous 1,200 square kilometres of 3D seismic. The funding for the seismic over East Mizzen had already been included in its previous cost estimate for its Celtic Sea 3D seismic programme.
Operators:
Fastnet Oil & Gas: Operator with 100% interest