Strategy

Our strategy is to secure high potential acreage / projects in new and existing oil and gas provinces. This is why we entered Iraq, and subsequently Ghana. 

Our data-base and geological knowledge shows that offshore Ireland is prospective; the question was risk versus reward. Higher oil and gas prices, the success of comparable plays elsewhere, and new technology have transformed offshore Ireland’s potential, as shown by the recent arrival of major oil companies. 

Petrel pioneered the ‘West African style’ Cretaceous play in its first two 2 Licensing Options since 2011. 

The success of the 2015 Licensing Bid Round (in which Petrel was awarded two Licensing Options) was largely due to multiple discoveries among eastern Canada's "Jurassic Plays" - which are of similar age to the Jurassic rocks in the Irish Atlantic Porcupine Basin.

Adverse developments elsewhere reinforce the advantages of clear legal title and competitive fiscal terms in Ireland.

 

THIS PAGE WAS LAST UPDATED ON 05 DECEMBER 2018

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