Oil and gas exploration

MINISTER for Communications, Energy and Natural Resources Eamon Ryan yesterday announced the awarding of the four oil and gas exploration licences in the Porcupine Basin area off the west coast of Ireland, initially put out to tender last year.

Two licences have been won by a consortium made up of Irish company Providence Resources, Sosina Exploration and Exxon Mobil.The other two licences will go to a teaming up of Island Oil & Gas and Supernova Ireland Resources and a consortium comprising Providence, Sosina and Challenger Minerals.