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Total unit to surrender Diablo license offshore Ireland

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Total unit to surrender Diablo license offshore Ireland

Total SA subsidiary Total E&P Ireland BV will surrender the Diablo license, FEL 2/14, to Ireland Dec. 31 due to the partners' lack of recommendation for further development.

Total informed Ireland's Department of Communications, Climate Action and Environment about the voluntary surrender of the license, according to an Oct. 1 news release from project partner Providence Resources PLC

The area is in water depths of about 1,300 meters in the southern Porcupine Basin and is off the west coast of Ireland.

Total E&P Ireland serves as project operator with a 35% stake, while Cairn Energy PLC unit Capricorn Oil Ltd. holds a 30% interest. Providence Resources owns a 28% stake, while SOSINA Exploration Ltd. has a 7% interest.