Most oil licences to proceed despite drill ‘ban’ threat

The vast majority of oil exploration options awarded by the Government, in its last licensing round two years ago, are set to be taken up and progressed despite the threat of a ban being imposed on offshore drilling in Ireland, writes Geoff Percival.

The first deadline for the acceptance, or otherwise, of 14 licensing options awarded to 11 companies over two tranches in 2016 is imminent. While it is believed at least two recipients are handing back their options, the majority are understood to be planning to take up the options.