https://www.engineeringnews.co.za

Woodside tries its luck on the Irish

28th June 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Australian energy major Woodside has entered into two farm-in agreements offshore Ireland, as it advanced its efforts to explore for oil and gas in deeper waters.

The company told shareholders on Friday that Petrel Resources had accepted Woodside’s offer to acquire an 85% participating interest over two different licensing options, while Bluestack Energy had accepted the Australian firm’s offer to acquire a 90% participating interest in another licensing option.

Woodside CEO Peter Coleman noted that both offers included any subsequent frontier exploration licences that were generated from the licensing options.

He added that the farm-in agreements demonstrated Woodside’s commitment to pursue high potential exploration opportunities, which leveraged its deep-water exploration and production capabilities.

“The Porcupine basin is an emerging oil and gas province, which has seen increasing industry activity over the past several years. Woodside has an outstanding track record working in deep-water environments and these opportunities fit with our core capabilities and corporate strategy,” said Coleman.

Both offers were subject to the execution of fully termed agreements, the completion of due diligence and other approval, including government approval.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.047 0.87s - 140pq - 2rq
Subscribe Now