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IRELAND AWARDS FRONTIER LICENSES TO FIVE GROUPS

March 28, 1994

Ireland has awarded exploration licenses covering 28 of 128 offshore tracts offered in the Atlantic Ocean in the country's first frontier licensing round. Five bidding groups including 10 companies received 16 year exploration licenses, each consisting of four 4 year phases with specified work programs. The acreage awarded covers parts of Slyne and Erris troughs and is in 650 6,500 ft of water about 43 miles off the Irish mainland.

Ireland has awarded exploration licenses covering 28 of 128 offshore tracts offered in the Atlantic Ocean in the country's first frontier licensing round.

Five bidding groups including 10 companies received 16 year exploration licenses, each consisting of four 4 year phases with specified work programs. The acreage awarded covers parts of Slyne and Erris troughs and is in 650 6,500 ft of water about 43 miles off the Irish mainland.

Licensees during the first 4 year exploratory phase are to collect more than 5,000 line km of geophysical data, including gravity, magnetic, and seismic surveys. During the second 4 year exploratory phase, licensees must drill an exploratory well or drop the acreage.

Ireland in April 1991 announced plans to allow exploration on the frontier tracts (OGJ, Apr. 29, 1991, p. 77). The licensing round's original closing date, June 30, 1993, later was extended to Dec. 15, 1993, to allow more time for prospective bidders to acquire, process, and interpret seismic data.

AWARDS DETAILED

Irish Energy Minister Noel Treacy announced these awards:

Enterprise Oil plc received 100% interest in a license covering Blocks 12/2, 12/3, 12/7, and 12/8.
Enterprise and Santa Fe Minerals (Ireland) Ltd. were awarded Blocks 18/14, 18/15, 18/19, and 18/20. Operator Enterprise holds 60% interest in the license and Santa Fe 40%.
Kerr McGee Oil Corp., Aran Energy plc, and Monument Resources (Overseas) Ltd. were awarded Blocks 27/12, 27/13, and 27/17. Operator Kerr-McGee holds 60% interest in the license and Aran and Monument 20% each.
Statoil U.K. Ltd., Union Texas Petroleum Ltd. unit of Union Texas Petroleum Holdings Inc., and Rimrock Offshore Ltd. unit of Murphy Oil Corp. were awarded Blocks 11/29, 19/2, 19/3, 19/4, 19/7, 19/8, 19/11, 19/12, 19/16, 19/17, and 19/21. Operator Statoil holds 45% interest in the license, Union Texas 30%, and Rimrock 25%.
Texaco Britain Ltd. and Repsol Exploration (U.K.) Ltd. were awarded Blocks 27/14, 27/18, 27/19, 27/22, 27/23, and 27/24. Operator Texaco holds 60% interest in the license, Repsol 40%.