Fourteen new licensing options have been granted to 11 companies in Ireland’s second phase of the 2015 Atlantic Margin Licensing Round, which has received the largest response in Ireland’s offshore history.
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Of the 11 companies, the nine operators are: AzEire Petroleum with two licenses; Capricorn Ireland with one license; Europa Oil and Gas with four licenses; Faroe Petroleum with one license; Petrel Resources with two licenses; Predator Oil and Gas with one license; Providence Resources with one license; Ratio Petroleum with one license; and Scotia Oil and Gas with one license. The two other companies include Theseus who will partner Predator; and Sosina Exploration who will partner Providence.
In addition to the first phase of awards, which were made in February, a total of 28 licensing options have been granted to companies that will carry out work programs in efforts to deepen the understanding of the petroleum potential of Ireland's offshore.
"The industry response to the 2015 Round has been very positive, with a total of 43 applications for Licensing Options received by the deadline last September,” Seán Kyne T.D., Ireland Minister of State for Natural Resources said.“The response to the 2015 Atlantic Margin Licensing Round is by far the largest number of applications received in any licensing round held in the Irish offshore. At a time of very low oil prices, the strong interest in the Round is very positive."
Europa confirmed four licensing options, in which the company holds 100% interest as operator, at a total acreage of 3745sq km. Licenses include LO 16/19 in the South Porcupine basin; LO 16/20 and LO 16/21 in the Slyne basin; and LO 16/22 in the Padraig basin.
"We now have a leading position with seven licenses in offshore Ireland and feel that we have a sustainable exploration business with a balanced portfolio of assets in three basins with a variety of risk ranging from exploration in a proven commercial play to frontier exploration and all points in between," Hugh Mackay, Europa CEO said. "Europa is potentially exposed to 4 billion boe and 1.5 TCF of gross mean un-risked indicative and prospective resources across the seven licenses."
AzEire Petroleum was awarded two licenses: 16/16 that covers Blocks 35/6, 35/7, 35/11, 35/12; and 16/17, which covers Blocks 44/14P, 44/15P, 44/19, 44/20, 44/25, 45/21, 45/26.
Petrel Resources confirmed its 100% operatorship of 16/24, located in the north-eastern Porcupine Basin, is a considerable grant of 664sq km encompassing the entirety of Blocks 26/26, and 35/01, as well as available parts of 26/27 and 35/02; and Block 16/25 in the eastern Porcupine Basin, closer to shore, encompassing 260sq km of the entirety of Block 45/27.
Earlier this year in February, 14 licenses were offered in the first phase to eight companies: one license to operator Eni with BP as partner; one license to Europa; two licenses to operator ExxonMobil with Statoil as partner; four licenses to Nexen; one license to Scotia; four licenses to Statoil as operator, with ExxonMobil as partner; and one license to Woodside.
Read more:
Eni, ExxonMobil, Statoil among Irish offshore winners
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