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Ireland attracts four majors in 2015 Atlantic Margin licensing round

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Report summary

On 11 February 2016, the Irish Minister of State awarded 14 licences in the first phase of the 2015 Atlantic Margin licensing round. Among the awardees are four majors: Eni, ExxonMobil, Statoil and BP. The licences have been awarded in the Porcupine Basin, which is considered the most prospective of Ireland's Atlantic Margin basins. This is a great result for the Irish upstream sector and the awardees can bring a wealth of knowledge and expertise to the frontier, deepwater region. Work commitments will include the acquisition of new seismic data, but no exploration wells at this stage. A second phase of awards will be announced in May 2016, which we expect to be predominately in the Rockall and Slyne Basins.

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  • Document

    Ireland attracts four majors in 2015 Atlantic Margin licensing round

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Table of contents

  • A great result for the Irish upstream sector
  • Map of blocks on offer in Porcupine Basin
  • Major oil companies provide a wealth of expertise to Ireland
  • New fiscal regime provides necessary stability
  • No drilling commitments encourage interest despite low oil price

Tables and charts

This report includes 3 images and tables including:

Images

  • Porcupine Basin blocks and licences

Tables

  • Licence awards
  • Ireland licence awards

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