Erne is an Eocene Tay formation oil prospect located between the Fyne and Northwest Guillemot fields at a drilling depth of about 6,000ft.

AGR Well Management has been contracted by Antrim for project management and drilling services.

Antrim operates the Erne prospect with a 50% interest, while Premier Oil acquired the remaining 50% interest in the licence by committing to contribute a promoted share of the drilling costs.

Antrim said it is pursuing a strategy of balancing longer term and capital-intensive investments in the UK North Sea.