Forbes: Ireland offers Shell, Island oil exploration licences: Tuesday 08.16.2005

AFX News Limited

DUBLIN (AFX) - The Irish government offered Royal Dutch Shell PLC and Island Oil and Gas licences to drill deepwater areas of the Atlantic Ocean.

Marine and natural resources minister Noel Dempsey said that the 16-year licences had been offered for offshore exploration in the North East Rockall Basin area, off Ireland's northwest coast.

Most of Ireland's Atlantic offshore remains to be explored for gas, but the country is believed to have no offshore oil.

Dempsey said only two applications had been received by the May 31 deadline this year.

'The areas applied for comprised seven blocks, amounting to approximately 1,650 square kilometres, 10 percent of the total area on offer,' Dempsey said.

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http://www.forbes.com/business/feeds/afx/2005/08/16/afx2182277.html

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