Sunday, March 6, 2016

Eni, Exxon, Statoil win Irish offshore oil and fuel licences


Eni, Exxon, Statoil win Irish offshore oil and fuel licences

The Irish government stated on Thursday it had provided oil and gasoline licences to agencies such as oil majors Eni (ENI.MI), Exxon (XOM.N) and Statoil (STL.OL), allowing them to probe for hydrocarbons off the coast of eire.

The electricity ministry has presented 14 new licences as a primary segment of a soft for offshore blocks that offers agencies access to new exploration areas for two years, it stated. The spherical attracted forty three applications.

"this is by some distance the largest quantity of packages acquired in any licensing spherical held within the Irish offshore," said Joe McHugh, eire's minister for communications, energy and herbal resources, in a statement.

"At a time of very low oil charges the sturdy hobby within the round is very wonderful."

Oil prices have fallen around 70 percent in view that a peak in mid-2014 and plenty of massive oil businesses, consisting of a number of those which obtained Irish licences, have scaled lower back exploration budgets as they rein in charges.other companies which had been successful in securing licences inside the first section consist of Nexen, Europa (EOG.L), Scotia and Woodside (WPL.AX), the government said.

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