Irish exploration group Island Oil & Gas said it will not participate in the award of the exploration licence 5/07, containing the Roscarberry prospect, Galley Head (48/18-1) and Carrigaline (48/24-4) gas discoveries, citing additional exploration commitments.
Island Oil & Gas was awarded a 22 per cent interest in the licence, in the Celtic Sea, in August 2007.
The reallocation of interests in the licence is awaiting approval by the Department of Communications, Energy and Natural Resources.
Agencies
