Fastnet Executes Agreement with Kinsale Energy Offshore Ireland

Irish-based firm Fastnet has announced its agreement with Kinsale Energy to farm into the Deep Kinsale Project off the southern coast of Ireland.

Kinsale Energy is a wholly-owned subsidiary of energy major Petronas.

Fastnet released details of the project in a statement, noting that Deep Kinsale, beneath the producing Kinsale Head gas field, is geologically similar to and on trend with Barryroe.

Chairman of Fastnet Cathal Friel said: "We have long held a belief that Deep Kinsale offers the potential to yield up another significant hydrocarbon discovery offshore Ireland. This belief has been further strengthened by the successful appraisal of Barryroe in 2012, which is geologically analogous to Deep Kinsale."

The Kinsale gas field came on stream in 1978.