CNOOC has converted Licensing Option (LO) 16/23 to Frontier Exploration Licence (FEL) 3/19, effective from 1 July 2019 and valid until 30 June 2034. LO16/23 was awarded to Faroe Petroleum in the 2015 Atlantic Margin Round, and came into effect on 1 July 2016 with a three year term. It is located 30 km NE of Corrib Field, and covers 960 sq km on Slyne-Erris Basin blocks 19/7, 8, 11, 12, 16 & 17. The acreage contains the Edge prospect which is estimated to hold 1.2 Tcfg mean recoverable resources in Early Triassic Sherwood Group sandstones sealed by Early Triassic Mercia Mudstones, within a large rotated fault block. Faroe Petroleum farmed out of 80% operator share of LO16/23 to CNOOC (previously Nexen Petroleum) in July 2017, before DNO acquired Faroe Petroleum in March 2019. FEL3/19 partners are CNOOC Petroleum Europe Ltd (80% + Op) and DNO North Sea UK Ltd (20%). 
CNOOC has converted Licensing Option (LO) 16/23 to Frontier Exploration Licence (FEL) 3/19