Drilling starts at Dunquin prospect

Drilling activity has formally started at the Dunquin exploration prospect off the Kerry coast.

Operated by joint-largest shareholder, oil giant ExxonMobil, the Porcupine Basin-based prospect — located approximately 150km off the coast of Kerry — has long-since been heralded as one of the high potential oil prospects in Irish waters.

ExxonMobil holds a 27.5% stake in the prospect, with the Dublin-headquartered Providence Resources one of the junior partners on the project. Italian energy giant, Eni also holds a 27.5% stake, with Spanish oil and gas company, Repsol holding a 25% equity interest.