Serica Energy (UK) Ltd has been awarded the Frontier Exploration Licence in Ireland, under the Rockall Licensing Round.

Making the announcement, Natural Resources Minister Conor Lenihan said: "I am pleased to offer my congratulations to Serica on their successful application for a Frontier Exploration Licence and to wish them success in the significant new efforts they will undertake in progressing their work programme."

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Mr Lenihan said Rockall Basin is a challenging location in frontier exploration, but added works would underpin the importance of the continuing search for indigenous energy resources, in order to reduce Ireland’s dependency on imported oil and gas.

"This industry is of great importance to the country and I and my Department will do the upmost to encourage and assist the exploration Industry and any industry which has the capacity to create employment and to increase Ireland’s energy independence," Minister Lenihan said.

Members of the Serica team had significant involvement, while employed by Enterprise Oil, in the work leading to the Corrib and Dooish discoveries and have a successful track record in attracting major farm in partners.

(PR/BMcc)