Malaysia’s Petronas enters Irish waters

Lansdowne Oil & Gas plc has received Irish Government consent to the farm-in agreement entered into last year with PSE Kinsale Energy Limited, a subsidiary of Malaysian oil giant Petronas.

Through the 80% interest and as the operator of SEL 4/07 offshore Ireland, Kinsale Energy will fund 100% of the costs of drilling a well on the Midleton prospect.

Should the well be tested, Kinsale Energy will also fund Lansdowne’s share of the testing costs, up to US$ 2.5 million (net).

According to Lansdowne, Kinsale Energy has started working on well planning and further announcements will be made in due course.

Commenting on the news, Lansdowne CEO Steve Boldy said: “We are pleased to receive the consent from the Irish Government for the farm-out of Licence 4/07 to Kinsale Energy and look forward to drilling the Midleton gas prospect. Much of the focus on Lansdowne’s Celtic Sea assets in the last couple of years has been on the oil in Barryroe and whilst this remains the core of our portfolio, we continue to see great potential in searching for more gas in the basin.

“Gas prices remain robust and security of supply continues to be a concern, so any additional volumes we can discover and bring on-stream will be very valuable.”

Share this article

Follow Offshore Energy Today

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

Offshore Energy Exhibition and Conference (OEEC)

The three-day event features an exhibition where over 600 companies will showcase their products and services…

read more >

Argentina Oil and Gas Expo 2019

The Argentine Oil and Gas Institute (IAPG) organizes the Argentina Oil & Gas Expo bringing together the most…

read more >

OEE Conference & Exhibition 2019

OEE2019 is organised by Ocean Energy Europe, the industry association representing ocean energy in Europe.

read more >

Africa Oil & Power 2019

The Africa Oil & Power conference will bring together an elite class of ministers and senior-level government…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply