Fastnet nets 5th licence in Celtic Sea

Dublin-based explorer Fastnet Oil & Gas has added to its portfolio of assets in the Celtic Sea through the awarding of an eight-block licensing option.

The 18-month East Mizzen licensing option will see the company reprocess a minimum of 400km of existing 2D seismic survey data and carry out fresh 3D seismic surveying before the end of May.

It marks Fastnet’s fifth licence award in the Celtic Sea in the last year and gives the company one of the largest acreage portfolios in the area.