The company will begin installation of various subsea facilities in the first half of 2012 at the Fionn field in the UK North Sea block 211/22a South East Area.
Valiant has agreed to finance Antrim’s working interest share of the Fionn field pre-investment costs.
Development of the Fionn field is subject to approval from the UK Department of Energy and Climate Change and first oil from the field is expected in mid-2013.
Antrim’s working interest share of development costs for the field, including the pre-investment costs, is estimated to be about $22m.
