Antrim, an international oil and gas exploration and production company headquartered in Calgary, Canada, today announced that the UK Department of Energy and Climate Change (“DECC”) has approved the Field Development Plan (“FDP”) for the Causeway Field in the UK North Sea Block 211/23d. Antrim holds a 35.5% working interest in the Causeway licence.
The Causeway FDP includes a production well and a water injection well in the East and Far East fault panels utilising existing wells on the field drilled during the appraisal phase. The production well will be completed with dual electrical submersible pumps and first oil is anticipated in mid-2012. Hydrocarbons will be transported to and processed at the Cormorant North platform operated by TAQA Bratani Limited, before being exported to the Sullom Voe terminal for sale. Development costs net to Antrim are estimated at $32 million, after receipt of $21.8 million associated with the previously announced sale of Antrim Causeway.
The Operator of the Causeway Field, Valiant Causeway Limited, is proceeding with tie-back installations. The FDP envisions average production for the first twelve months will be 8,400 bopd (net 3,000 bopd to Antrim).
[mappress] Subsea World News Staff , December 28, 2011; Image: Causeway