Bloomberg News

Repsol Wins Irish Exploration Rights With Providence, Serica

October 17, 2011

Oct. 17 (Bloomberg) -- Repsol YPF SA, Spain’s largest oil company, and Providence Resources Plc are among energy companies that won 13 exploration licenses off the Irish coast.

A Repsol unit won a 40 percent stake in a license to explore the Goban Spur Basin, off Ireland’s southwest coast, with Providence and Sosina Exploration Ltd.

Irish Energy Minister Pat Rabbitte announced the winners in an auction of oil and gas exploration licenses today in Dublin. It may be possible that larger oil companies could become involved in the exploration process, depending on initial results, he said.

‘You have a pattern of the giants coming in at a particular juncture of the process,” Rabbitte told reporters. “If we have significant resources out there, and we hope we have, it would transform the position of the country in terms of energy security.”

The ministry received 15 applications of interest in licenses to explore the country’s Atlantic shelf.

Other companies to win a full or partial licenses include Serica Energy U.K. Ltd., Chrysaor E&P Ireland Ltd., Bluestack Energy Ltd., Antrim Energy Ltd., Europa Oil & Gas (Holdings) Plc., Two Seas Oil & Gas, First Oil Expro Ltd., San Leon Energy Plc and Petrel Resources Plc.

--Editors: Stephen Cunningham, Will Kennedy.

To contact the reporter on this story: Finbarr Flynn in Dublin at fflynn3@bloomberg.net

To contact the editor responsible for this story: Dara Doyle at ddoyle1@bloomberg.net


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus