The Atlantic Ocean Basin covers roughly 20% of Earth’s surface. With neighbouring seas like the North Sea and Caribbean, it covers about 106.4million square km (41.1million sq. miles) and hosts the most diverse array of offshore oil and gas provinces anywhere.
Irish oil explorer Providence Resources said today that Gardline's M/V Kommandor survey vessel was en route to the Newgrange prospect, where it will conduct a seismic data shoot.
Irish independent Providence Resources has finally spudded exploration well 53/6-A on the FEL 2/14 licence in the southern Porcupine basin located to the west of Ireland.
Antrim Energy has agreed to sell one of its subsidiaries to AzEire, a Bermuda-based firm whose oil operations are focused on exploration off the coast of Ireland.
The Obama administration is set to reverse course on opening Atlantic waters to a new generation of oil and gas drilling, after a revolt by environmentalists and coastal communities that said the activity threatened marine life, fishing and tourism along the U.S. East Coast.
Atlantic Petroleum said it has reduced its capital expenditure for exploration next year by 75% on the back of lower oil prices.
The company has budgeted up to DKK 30million for its near-term exploration activities.
It expects operating expenditures of around DKK 175million for the full year 2015.
Chief executive, Ben Arabo, said: “We are adapting to the market situation and are cutting costs in 2015 where we can.