CNOOC International is a key player in the Irish Atlantic Margin, located offshore Western Ireland.
CNOOC International is the acting operator for four licenses and has equity in a further two, covering the West Porcupine, Slyne Erris and Goban Spur basins. These licenses lie in an emerging play comparable to the Flemish Pass Basin, offshore Newfoundland.
In 2018, CNOOC International reached an agreement with ExxonMobil to exchange equity in adjacent exploration licenses in the Porcupine basin offshore southwest Ireland. As part of the agreement, CNOOC International acquired 25% equity in frontier exploration license 5/18 and 6/18 and ExxonMobil acquired 50% equity in the CNOOC International-operated frontier exploration license 3/18.
CNOOC International will continue to operate frontier exploration license 3/18, and ExxonMobil will be the operator of 5/18 and 6/18.