Cairn Energy buys interest in Irish wells

Cairn is to focus its exploration efforts in the North Sea and offshore Morocco

Edinburgh oil and gas explorer Cairn Energy has expanded its drilling portfolio by buying a share in Irish oil and gas licences.

The company said the farm-in agreement was for two licences offshore West of Ireland in the Porcupine Basin.

Cairn will act as operator of the programme and expects to contribute about 55% of each well.

The company has previously announced its efforts in 2013 would focus on the North Sea, and offshore Morocco.

It said it would wait until summer 2014 before re-starting its controversial drilling efforts in Greenland waters.

The group's chief executive, Simon Thomson, said: "The addition of this prospective acreage off the west coast of Ireland in the Porcupine Basin brings further exploration and appraisal potential to Cairn's frontier Atlantic Margin portfolio.

"Our operated, multi-well exploration programme, for which a rig has been secured, will start later this year in Morocco."