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February 11, 2016

Eni, Exxon and Statoil among winners to explore hydrocarbons off Ireland

The Irish Government has awarded 14 new oil and gas licences to companies that include Eni, Exxon and Statoil after concluding the first phase of awards in the 2015 Atlantic Margin Licensing Round.

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The Irish Government has awarded 14 new oil and gas licences to companies that include Eni, Exxon and Statoil after concluding the first phase of awards in the 2015 Atlantic Margin Licensing Round.

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The new licences will allow the companies to explore for hydrocarbons off the coast of Ireland for two years.

This phase of awards focuses on an area in the southern Porcupine Basin, where a number of applications included proposals to acquire new seismic surveys later in 2016.

Ireland Minister of State at the Department of Communications, Energy and Natural Resources Joe McHugh 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.

"At a time of very low oil prices, the strong interest in the Round is very positive."

"Industry’s response to the round demonstrates the perceived positive exploration opportunity of Ireland’s offshore and highlights confidence in the Irish regulatory process and the ability of industry to do business in Ireland."

Nexen, Europa, Scotia and Woodside are the other companies, which secured the licences in the first phase.

The government is planning to conduct second and final phase of awards during May.

The round, which attracted applications from major, mid-cap and smaller companies, closed in September 2015.

In 18 November 2014, McHugh attended the PETEX oil and gas exploration exhibition and conference in London to promote the licensing round.


Image: The new licences will allow the companies to explore for hydrocarbons off the coast of Ireland. Photo: courtesy of Ireland’s Department of Communications, Energy and Natural Resources.

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Free Report
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Carbon Capture, Utilization, and Storage set to play key role in reducing global emissions

Carbon Capture, Utilization, and Storage (CCUS) has emerged as one of the key technologies set to reduce carbon emissions, proving especially useful in projects where eliminating all process emissions is not possible  As a result, Oil & Gas companies are investing in CCUS projects as part of ongoing strategies to reduce their emission footprint and boost sustainability efforts.   Our recent report, CCUS Strategies in Oil and Gas, reveals that the energy sector accounts for approximately three-quarters of total greenhouse gas emissions and has a key role to play in reducing global warming over the coming decades.   Our report will help you:  
  • Understand CCUS and its importance in reducing global emissions 
  • Analyze CCUS plant trends 
  • Gain insight from leaders in the Oil & Gas industry on implementation of CCUS projects 
Download the report now to get ahead of this trend and make strategic investments.  
by GlobalData
Enter your details here to receive your free Report.

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