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Displaying items by tag: Deep Kinsale Prospect

#DeepKinsale - Fastnet Oil & Gas believes that its Deep Kinsale Prospect in the Celtic Sea could hold an incredible bounty of more than two billion barrels of oil.

As Proactive Investors reports, the Irish-headed oil exploration firm says an independent assessment of its prospect in the waters south of Cork estimates 2.365 billion barrels of oil in place.

Fastnet executed its exclusive option on the prospect earlier this year, and recently completed a 3D seismic survey of the area, the data from which will enable the company to identify oil reservoir 'sweet spots' for the best drilling results.

“Deep Kinsale is a large anticlinal structure, which has the potential to contain a significant oil accumulation directly beneath the producing Kinsale gas field and the two platforms, in the Celtic Sea,” said John Craven, founding Fastnet shareholder.

“This new 3D seismic is a key de-risking component necessary for the planning of an optimal drilling campaign."

The full operational update from Fastnet Oil & Gas is available HERE.

As previously reported on Afloat.ie, Fastnet Oil & Gas has been awarded a new licensing option elsewhere in the Celtic Sea in the area know as East Mizzen.

Published in Coastal Notes

#MarineNotice - CGG, on behalf of Fastnet Oil & Gas, is scheduled to carry out a full 3D seismic survey at Mizzen Basin in the Celtic Sea off the south-west coast beginning this month.

Details of this survey - as part of Fastnet's option on the Deep Kinsale Prospect - were previously reported on Afloat.ie but some details have been amended since.

The survey is expected to run for 35 days, subject to weather.

For full details - including co-ordinates of the work areas - see Marine Notice No 22 of 2013, a PDF of which is available to read or download HERE.

Published in Marine Warning

#MarineNotice - Further to the recent notice of a 2D seismic survey in the Atlantic waters of the Irish continental shelf, Marine Notice No 14 of 2013 advises mariners of two full 3D seismic surveys in the Celtic Sea off the south coast.

CGG will be conducting the surveys on behalf of Fastnet Oil & Gas as part of its option on the Deep Kinsale Prospect, as previously reported on Afloat.ie.

The works are expected to commence in later this month and are expected to last around 50 days, subject to weather, beginning with the Deep Kinsale survey followed by the Mizen survey.

The seismic vessel SR/V Vantage (Call sign LMHY3) is scheduled to carry out the work. The vessel will be towing 10 cables, each 6km long with 100m separation for a total width of 900m, at a depth of seven metres. The vessel will also tow two source arrays, each made of three subarrays, each with a width of 16m and at a depth of six metres.

The seismic vessel will be accompanied by support vessel M/V Oms Resolution (Call sign HP5135) and chase vessel M/V Stormbas II (Call sign V4EM2).

In addition, as part of the Deep Kinsale survey, a second 3D seismic vessel M/V Artemis Angler (Call sign LAGU7) will assist in an undershoot of the Kinsale Alpha and Bravo platforms. The two 3D seismic vessels will sail in parallel at the same speed, one on each side of the platforms using streamers. The undershoot aspect of the acquisition is expected to last two to three days.

The seismic vessels will be restricted in their ability to manoeuvre whilst carrying out the surveys and all other vessels are requested to give these operations a wide berth. All project vessels will be listening on VHF Channel 16 throughout the project.

All vessels, particularly those engaged in fishing, are requested to give the SR/V Vantage, the M/V Artemis Angler and their towed equipment a wide berth and keep a sharp lookout in the relevant areas.

Full details of co-ordinates of the survey areas are included in Marine Notice No 14 of 2013, a PDF of which is available to read or download HERE.

Published in Marine Warning

#Oil - Fastnet Oil & Gas has executed its exclusive option agreement to farm into its Deep Kinsale Prospect beneath the Kinsale Head Gas Field.

The option agreement with Petronas subsidiary Kinsale Energy is confined to geological formations below 4,000 feet subsea. Fastnet will conduct a 3D seismic survey over 500 sq km in the Celtic Sea prospect by the end of the year as well as complete necessary geological and engineering studies.

The agreement also gives Fastnet an exclusive option to test the geologically similar Purbecko-Wealden reservoirs productive in Barryroe, a prospect that has proven a bounty for Providence Resources.

Fastnet chair Cathal Friel said: "We are delighted to have added an exclusive option to farm into and potentially drill the Deep Kinsale Prospect in 2014.

"It represents an attractive addition to our Irish portfolio as 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.

"We greatly look forward to working in close cooperation with our colleagues at Kinsale Energy, as we collectively seek to de-risk the prospect for drilling."

As previously reported on Afloat.ie, Fastnet Oil & Gas announced in December its plans to spend more than €20 million on the Celtic Sea's biggest ever seismic study on blocks off the south coast which were drilled in the 1980s and later abandoned.

New techniques in the oil industry are now allowing previously unviable resources to be extracted, as fellow prospectors Petrel Resources are planning to do off the Kerry coast.

Published in Coastal Notes

Marine Protected Areas (MPAs) - FAQS

Marine protected areas (MPAs) are geographically defined maritime areas where human activities are managed to protect important natural or cultural resources. In addition to conserving marine species and habitats, MPAs can support maritime economic activity and reduce the effects of climate change and ocean acidification.

MPAs can be found across a range of marine habitats, from the open ocean to coastal areas, intertidal zones, bays and estuaries. Marine protected areas are defined areas where human activities are managed to protect important natural or cultural resources.

The world's first MPA is said to have been the Fort Jefferson National Monument in Florida, North America, which covered 18,850 hectares of sea and 35 hectares of coastal land. This location was designated in 1935, but the main drive for MPAs came much later. The current global movement can be traced to the first World Congress on National Parks in 1962, and initiation in 1976 of a process to deliver exclusive rights to sovereign states over waters up to 200 nautical miles out then began to provide new focus

The Rio ‘Earth Summit’ on climate change in 1992 saw a global MPA area target of 10% by the 2010 deadline. When this was not met, an “Aichi target 11” was set requiring 10% coverage by 2020. There has been repeated efforts since then to tighten up MPA requirements.

Marae Moana is a multiple-use marine protected area created on July 13th 2017 by the government of the Cook islands in the south Pacific, north- east of New Zealand. The area extends across over 1.9 million square kilometres. However, In September 2019, Jacqueline Evans, a prominent marine biologist and Goldman environmental award winner who was openly critical of the government's plans for seabed mining, was replaced as director of the park by the Cook Islands prime minister’s office. The move attracted local media criticism, as Evans was responsible for developing the Marae Moana policy and the Marae Moana Act, She had worked on raising funding for the park, expanding policy and regulations and developing a plan that designates permitted areas for industrial activities.

Criteria for identifying and selecting MPAs depends on the overall objective or direction of the programme identified by the coastal state. For example, if the objective is to safeguard ecological habitats, the criteria will emphasise habitat diversity and the unique nature of the particular area.

Permanence of MPAs can vary internationally. Some are established under legislative action or under a different regulatory mechanism to exist permanently into the future. Others are intended to last only a few months or years.

Yes, Ireland has MPA cover in about 2.13 per cent of our waters. Although much of Ireland’s marine environment is regarded as in “generally good condition”, according to an expert group report for Government published in January 2021, it says that biodiversity loss and ecosystem degradation are of “wide concern due to increasing pressures such as overexploitation, habitat loss, pollution, and climate change”.

The Government has set a target of 30 per cent MPA coverage by 2030, and moves are already being made in that direction. However, environmentalists are dubious, pointing out that a previous target of ten per cent by 2020 was not met.

Conservation and sustainable management of the marine environment has been mandated by a number of international agreements and legal obligations, as an expert group report to government has pointed out. There are specific requirements for area-based protection in the EU Marine Strategy Framework Directive (MSFD), the OSPAR Convention, the UN Convention on Biological Diversity and the UN Sustainable Development Goals. 

Yes, the Marine Strategy Framework directive (2008/56/EC) required member states to put measures in place to achieve or maintain good environmental status in their waters by 2020. Under the directive a coherent and representative network of MPAs had to be created by 2016.

Ireland was about halfway up the EU table in designating protected areas under existing habitats and bird directives in a comparison published by the European Commission in 2009. However, the Fair Seas campaign, an environmental coalition formed in 2022, points out that Ireland is “lagging behind “ even our closest neighbours, such as Scotland which has 37 per cent. The Fair Seas campaign wants at least 10 per cent of Irish waters to be designated as “fully protected” by 2025, and “at least” 30 per cent by 2030.

Nearly a quarter of Britain’s territorial waters are covered by MPAs, set up to protect vital ecosystems and species. However, a conservation NGO, Oceana, said that analysis of fishing vessel tracking data published in The Guardian in October 2020 found that more than 97% of British MPAs created to safeguard ocean habitats, are being dredged and bottom trawled. 

There’s the rub. Currently, there is no definition of an MPA in Irish law, and environment protections under the Wildlife Acts only apply to the foreshore.

Current protection in marine areas beyond 12 nautical miles is limited to measures taken under the EU Birds and Habitats Directives or the OSPAR Convention. This means that habitats and species that are not listed in the EU Directives, but which may be locally, nationally or internationally important, cannot currently be afforded the necessary protection

Yes. In late March 2022, Minister for Housing Darragh O’Brien said that the Government had begun developing “stand-alone legislation” to enable identification, designation and management of MPAs to meet Ireland’s national and international commitments.

Yes. Environmental groups are not happy, as they have pointed out that legislation on marine planning took precedence over legislation on MPAs, due to the push to develop offshore renewable energy.

No, but some activities may be banned or restricted. Extraction is the main activity affected as in oil and gas activities; mining; dumping; and bottom trawling

The Government’s expert group report noted that MPA designations are likely to have the greatest influence on the “capture fisheries, marine tourism and aquaculture sectors”. It said research suggests that the net impacts on fisheries could ultimately be either positive or negative and will depend on the type of fishery involved and a wide array of other factors.

The same report noted that marine tourism and recreation sector can substantially benefit from MPA designation. However, it said that the “magnitude of the benefits” will depend to a large extent on the location of the MPA sites within the network and the management measures put in place.

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