FEL 3/04 is in 1,500 m (4,921 ft) of water in the southern Porcupine basin, 170 km (105 mi) off the southwest coast. It contains the 2013-drilled Dunquin North carbonate build-up, which hosts a residual oil column, and the undrilled Dunquin South exploration prospect.
Following ratification by Ireland’s government of the changes, the remaining partners in FEL 3/04 have increased their equity interests in the license through a pro-rata distribution of ExxonMobil’s equity interest.
Eni Ireland now has 36.913%, Repsol Exploracion Irlanda 33.557%, Providence Resources 26.846%, and Sosina Exploration 2.684%.
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