Petrel Resources has been awarded two licensing options in the Porcupine Basin, offshore Ireland, totalling 1,405km2.
The licensing options include blocks 35/23, 35/24 and the key parts of 35/25, 45/6, 45/11, 44/15 and 45/16.
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The Irish Department of Communications, Energy and Natural Resources opened bidding in May this year for 25,200km2 of sedimentary acreage to encourage discoveries and hydrocarbon supplies in the region.
Petrel Resources managing director David Horgan said that the petroleum system is proven, the water depth moderate, the title secure and the fiscal terms attractive.
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