Fastnet Oil claims ‘keen interest’ in its Celtic Sea assets

Dublin-based explorer Fastnet Oil & Gas has said that interest in its Celtic Sea assets has swelled since the second half of last year, with a number of sizeable international players considering a farm-in investment.

Fastnet, which had been in talks with smaller firms regarding its Irish operations last year, hopes to name a development partner for its Celtic Sea portfolio before the halfway point of 2014.

This year will also see drilling begin on the offshore Morocco licence in which the company owns a 12.5% stake and drilling start on its 100%-owned onshore Morocco interests which, if successful, could see the Irish firm become the largest gas producer in the north African country.