Rockall licensing area extended

Offshore staff

DUBLIN -- Seán Power, the Irish minister of state at the department of communications, energy, and natural resources, has decided to extend the area to be opened for licensing in the 2009 Rockall licensing round to include the northwestern margin of the Rockall basin. This will bring the total acreage on offer under the round to 117,100 sq km (45,213 sq mi).

"This is the first time since 1997, that such a major part of the Rockall basin has been the subject of a licensing round," says Power. "Recent technical studies have indicated a significant petroleum potential within the Rockall basin. It is timely, therefore, that the oil and gas exploration industry be offered an opportunity to commit to invest in new exploration programs in the basin."

Applications for Frontier exploration licenses covering blocks in the round will be invited in 4Q 2008 with a closing date for applications in 2Q 2009.

07/12/2008