Fourteen new licensing options will be offered in the Irish offshore. Ireland’s own Department of Natural Resources made the announcement Friday after the 2015 Atlantic Margin Licensing Round.
The first phase of the awards was made earlier this year in February. After this second phase, a total 28 new licensing options have now been awarded under the 2015 round. Operators receiving acreage in the second phase include Europa Oil & Gas, Faroe Petroleum, and Providence Resources.
Seán Kyne, the Minster of State for Natural Resources released the statement, “The industry response to the 2015 Round has been very positive.” He added that 43 applications for licensing options were received last December.
“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,” Kyne continued, “At a time of very low oil prices, the strong interest in the Round is very positive.”
Kyne finished with a statement on the industry’s response to the Round. He said that it demonstrated the perceived positive prospectivity of Ireland’s offshore and emphasized the confidence in the Irish regulatory process as well as the ability to do business in Ireland.
Article written by HEI contributor Briana Steptoe.