Fastnet looks for farm-out partner

Fastnet Oil & Gas has initiated a farm-out process to help cover the cost of its forthcoming $18m (€14m) surveying activity in the Celtic Sea, which will be the biggest of its kind ever undertaken in the area.

Last month, the exploration firm selected French geophysical specialist, CGG to carry out the 3D seismic survey to cover 2,200sq km of the Celtic Sea.

Fastnet say the 3D survey will last for about 50 days. It is due to begin in April.