Antrim fixes FPSO for Fyne development

Hummingbird Spirit: Antrim Energy plans to lease the floating production, storage and offloading vessel (pictured above) for the development of its Fyne field in the UK North Sea

SEVAN MARINE

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Danica Newnham

 13 November 2012 08:23 GMT

London-listed Antrim Energy plans to lease the Hummingbird Spirit floating production, storage and offloading (FPSO) vessel for the development of its Fyne field in the UK Central North Sea.

The company announced on Tuesday that it had signed a heads of terms agreement with Hummingbird Production, a subsidiary of Canadian shipping giant Teekay, for an option to lease the FPSO for use in its wholly-owned Block 21/28a.

Fully termed agreements will be subject to consent to a field development plan, which is expected to be submitted to the UK Department of Energy and Climate Change for approval in January.

Antrim chief executive Stephen Greer said the lease of the FPSO meant there was a solution for “stranded assets” in the North Sea.

“Development…

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