Irish bid round nets 14 licenses to eight companies

Offshore staff

DUBLIN, Ireland
Ireland’s Department of Communications, Energy and Natural Resources has offered 14 new licensing options in the Irish offshore following the conclusion of the first phase of awards in the 2015 Atlantic Margin Licensing Round.

This phase of awards focuses on an area in the southern Porcupine basin, where a number of applications included commitments to acquire new seismic surveys later this year. The form of concessions on offer for the round is two-year licensing options.

Joe McHugh, Minister of State at the Department of Communications, Energy and Natural Resources, said: “The response to the round has been extremely positive, with 43 applications for licensing options received by the deadline of September 2015. This 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.”

The offer of awards involves eight companies, Eni, Europa, ExxonMobil, Nexen, Scotia, Statoil and Woodside as operators, along with BP, who will partner with Eni. ExxonMobil and Statoil will partner on six total licenses. As a sole operator, Nexen was granted the most licenses with four.

The second and final phase of awards is planned for mid-May.

02/11/2016

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