Minister for Communications, Energy and Natural Resources, Mr. Pat Rabbitte T.D. today announced the award of thirteen new Licensing Options in the Irish offshore. Making the announcement this morning at the opening of a major petroleum research conference in Dublin Minister Rabbitte said that he was pleased that the international exploration industry had responded positively to the invitation to participate in the 2011 Atlantic Margin Licensing Round.
A total of fifteen applications were received by the closing date and following the evaluation of these applications thirteen Licensing Options are to be awarded. The Options are for a two-year period during which time the exploration companies will have to complete an agreed work programme.
A total of twelve companies are involved in the thirteen awards. The companies involved include both new entrants to Ireland, together with companies already active in the Irish offshore. The seven new companies that will be offered acreage are: Antrim Energy; Bluestack Energy; Europa Oil & Gas; First Oil Expro; Petrel Resources; Repsol Exploration; and Two Seas Oil & Gas Ltd. The five companies already active in Ireland are: Providence Resources Plc; Chrysaor; Serica Energy; Sosina Exploration and San Leon Energy.
In welcoming the interest shown Minister Rabbitte said “ Ireland needs to see an increase in exploration activity and exploration drilling in particular, if the petroleum potential of our offshore is to be realised. The positive outcome of the 2011 Atlantic Margin Licensing Round will help bring a new momentum to the level of exploration activity in our offshore. Ireland must continue to communicate the message to international exploration companies that Ireland is open for business and that the Irish offshore has real potential.”
[mappress] Source:Dcenr , October 17, 2011