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Oil & Gas

Exxon Wins 2 New Licenses From Ireland

March 07, 2008
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According to the Associated Press, oil company Exxon Mobil Corp. said recently that a subsidiary has received two additional licenses from the Irish government for exploration in the Porcupine Basin of the Irish Sea.

The new awards bring the company''s total interest in the basin to 18 exploration blocks plus an option for an additional 15 blocks.

The licenses are located in water with depths exceeding 6,500 feet and cover an area of 760,000 acres, the company said.

ExxonMobil Exploration and Production Ireland Ltd. has an 80 percent interest in the two new license areas. Providence Resources PLC and Sosina Exploration Ltd. hold the remaining interest.
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