Valiant Petroleum is expected to submit a field development plan for the Fionn field in the northern North Sea in the first quarter of 2012.
Fionn, previously known as the Central Causeway fault block, will be a subsea tie-back to the Causeway development, approved at the end of last year by the Department of Energy and Climate Change.
Valiant, operator on the field, will carry 35.5% interest-holder Antrim Energy’s development costs, estimated to be £14.2million.
Antrim, which made the announcement today, has a three-month option to opt out. First oil is expected in mid-2013.
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