International projectsOur operating track record in Ireland has opened up many international opportunities for Island. We have approved operator status in Albania, The Netherlands, Moldova, and Morocco. Our integrated technical, commercial and legal team is currently active in a number of these countries in seeking out oil and gas field rehabilitation projects. Our status as an independent, politically unaligned, Irish operator will allow us to exploit further opportunities. Island is focusing on building its portfolio in a small number of strategically important, energy deficient countries with potential for an expanding domestic energy market – these countries are promoting deregulation and the development of new indigenous resources to reduce dependence on imported energy. Geographically these are strategically important areas for developing more diversity in the sources of energy for Western Europe and for potential investment in alternative regional infrastructure routes. We have chosen countries that have proven hydrocarbon systems but lack new investment in exploration, appraisal and development. They were first looked at by the oil majors in the 1950s through to the early 1990s but then neglected due to the lack of material discoveries for the oil majors and a decline in oil price. Island is of a size and operating capability and technical expertise that it can quickly assess the wealth of historical exploration data to identify and exploit these new opportunities for appraisal and field rehabilitation projects through its stream-lined decision-making process and its ability to attract partners, |
