Antrim to regain interest in North Sea licence

AIM-listed oil and gas group Antrim Energy is to regain working interest, reserves and operatorship in the Fyne Licence in the North Sea from Premier Oil, under the terms of the joint operating agreement (JOA).

AIM-listed oil and gas group Antrim Energy is to regain working interest, reserves and operatorship in the Fyne Licence in the North Sea from Premier Oil, under the terms of the joint operating agreement (JOA).

The Canada-based company said its working interest in Fyne (Central North Sea Licence P077 Black 21/28z) will increase from 35.1% to between 58.4% and 100%, "contingent on the election by the other party to the JOA." The increase is also subject to the approval from the UK Department of Energy and Climate Change (DECC), expected in the coming weeks.

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