Premier, Antrim Abandon East Fyne Well

UK firm Premier Oil announced Monday that it was abandoning its East Fyne appraisal well in the North Sea. Premier is the operator of the well and holds 39.9 percent of equity in the Fyne block in the UK's zone of the North Sea (block 21/28a) on which the well is located, while Canadian firm Antrim Energy has a 35.1 percent working interest.

The East Fyne well was drilled to a total depth of 5,020 feet and encountered 11 feet of gas-bearing sand within the Upper Tay formation and eight feet of oil-bearing sand within the Middle Main Tay. But because the thickness of the oil-bearing sand is at the lower end of the pre-drill estimate the firms have decided to plug and abandon the well.
The Sedco 704 (mid-water semisub), which was used on East Fyne, will now be moved to drill the Premier-operated Bluebell prospect (in which Premier has a 60 percent working interest) on license P1466 (UK block 15/24c), also in the Central North Sea. Results from this well are expected next month.
Separately, Antrim Energy said that progress was being made with the development of the Causeway Field, which is located on blocks 211/22a and 21/23d in the UK zone of the North Sea.
After a field development plan was approved by the UK's Department of Energy and Climate Change, a lump sum contract with a value of approximately $52 million (GBP 33 million) was awarded by operator Valiant Causeway (54 percent interest) to French contractor Technip for engineering, procurement, installation and commissioning of rigid and flexible pipelines, subsea equipment and umbilicals.
Meanwhile, the Borgsten Dolphin (mid-water semisub) rig has been contracted to complete the existing production and water-injection wells on the field (in which Antrim holds a 35.5 percent stake). First oil is expected during the third quarter of 2012.



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