Kosmos Energy the latest international firm to focus on Ireland’s oil and gas

US company Kosmos Energy has become the latest international exploration firm to show an interest in Ireland’s burgeoning offshore oil and gas potential, snapping up controlling stakes in two prospects off the Kerry coast.

Dallas-based Kosmos — already a partner with Tullow Oil in Ghana and with Fastnet Oil & Gas in Morocco — has signed up to take a 75% stake of a licensing block owned by Canadian explorer Antrim Energy, in return for funding a 3D seismic study on the prospect.

Additionally, Kosmos is acquiring an 85% holding in the two Porcupine Basin licensing options currently owned by London-based company Europa Oil & Gas. Under this agreement, Kosmos will fully fund a planned 3D seismic programme and reimburse Europa for a portion of its previously-incurred exploration costs. The US firm will also cover 100% of the costs of first exploration on each of the Europa blocks.