11th February 2016 – The Irish Offshore Operators’ Association (IOOA) has today welcomed the announcement by Minister of State at the Department of Communications, Energy and Natural Resources Joe McHugh TD, of the first phase of awards in the 2015 Atlantic Margin Licensing Round. This phase has seen awards to eight companies, focusing on the southern Porcupine Basin.
Commenting, Professor Pat Shannon, Chairman of IOOA said:
“The award of eight Licensing Options is a very positive development for Ireland’s oil and gas industry, representing very strong interest in the Irish offshore, even at a time of global price volatility, demonstrating that Ireland remains attractive for oil and gas exploration.
It is very encouraging to see some new entrants to exploration in the Irish offshore, together with some companies who are returning again, as well as explorers who are already active here.
Oil and gas is a crucial contributor to Ireland’s future energy mix and overall energy security, with the potential to deliver long-term benefits. At IOOA, we look forward to the announcement of the next phase of licensing awards in early-Summer.”