New Irish oil licenses to Statoil

StatoilStatoil

Statoil Ireland has been awarded six licensing options in the country. The six license options covers an area of about 7,700 square kilometers in the Porcupine Basin northeast in

Atlantic
Statoil will be the operator in four of licensing options and a partner in the other two.
The License options will initially amount to obligations to collect 2D and 3D seismic during 2016 and 2017.
Based on analyzes of seismic data it will be determined whether the company will proceed to convert the license options for exploration licenses, which provide opportunities for potential exploration drilling at a later date,  Statoil said in a statement.
Statoil has been present in Ireland since 1992 and currently has its largest involvement in the Shell-operated Corrib gas field off the northwest coast of the country. Statoil’s share in this project is 36.5 percent.

 

Source: NTB scanpix / Norway Today

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