Kosmos Takes Offshore Irish Interest from Antrim Energy

The government of Ireland has approved Antrim Energy's transfer of interest and operatorship for its Licensing Option 11/5 in the Porcupine Basin off Ireland's west coast.

The transfer was approved by the Minister for Communications, Energy and Natural Resources, Pat Rabbitte, last week. As previously announced, Kosmos Energy Ireland, a subsidiary of Kosmos Energy, acquires 75% interest and operatorship in the Licensing Option in exchange for carrying the full costs of a 3-D seismic programme.

Antrim retains the remaining 25% interest.

In a statement the Canadian-based explorer noted that the licence adjacent to the Skellig Block contains the Dunquin North and South prospects. These have been estimated by licence partners Providence Resources and Sosina Exploration to contain in excess of 1,700 million barrels of oil equivalent recoverable volumes in the form of natural gas and gas condensate.