The licence covers five blocks in the South Porcupine Basin, 200km off the south west coast of Ireland.
The Irish subsidiary of Repsol will acquire a 25% equity interest in the license by taking a 12.5% interest each from ExxonMobil Exploration and Production Ireland (Offshore) and Eni Ireland.
Following completion of this transaction, which is subject to regulatory approval, ExxonMobil and Eni will each hold a 27.5% stake in the license.
Irish oil and gas company Providence Resources, Repsol and Sosina will own 16%, 25% and 4% interests, respectively, and ExxonMobil will continue to operate the license.
