Island Confirms Marathon Bid Interest

Island Oil and Gas has confirmed media reports that it is considering bidding for Marathon's Irish offshore assets.

Island says the acquisition could add considerable value through cost savings and synergies to its portfolio, given the proximity of its Celtic Sea assets.

"We see this as a potential opportunity to add serious value to our portfolio of owned and operated assets," says Island Oil and Gas CEO Paul Griffiths.

"We already have a strong regional position and can use our experience to take on and develop the assets to the advantage of both our shareholders and the wider Irish economy."

By staff writer