New oil and gas explorer to target the south coast

A new oil and gas exploration company, AzEire Petroleum Ltd has been launched seeking hydrocarbon resources in the North Celtic Sea and Fastnet basins.

The company already has licence option positions secured through its 100%- owned subsidiary Charge Oil Ltd.

The company emphasised how the North Celtic Sea and Fastnet basins off the south coast had seen renewed exploration activity in the last few years on the back of positive appraisal results in Providence Resources’ Barryroe oil field development in the North Celtic Sea.