Nexen has acquired a 25% interest in Frontier Exploration Licences (FEL) 5/18 and 6/18 from ExxonMobil. In return for the interest in the licences, ExxonMobil has taken a 50% interest in FEL 3/18 which contains the Iolar prospect, slated for drilling next year in 2019. It is understood that the deal completed in September 2018.  Iolar is planned to be drilled in Q2 2019 with the Stena IceMax drillship. FEL 3/18, previously known as LO16/7, covers an area of approximately 1,300 sq km and is located immediately west of FEL 2/14 where Providence drilled the Druid / Drombeg exploration well in 2017. Â   Interest in FEL 3/18 is now held by Nexen Petroleum UK Limited (50% + operator) and ExxonMobil Exploration and Production Ireland (offshore south) Limited (50%). Interest in FEL 5/18 and FEL 6/18 is now held by ExxonMobil Exploration and Production Ireland (offshore south) Limited (25% + operator), Equinor UK Ltd (50%) and Nexen petroleum UK Limited (25%).
Nexen has acquired a 25% interest in Frontier Exploration Licences (FEL) 5/18 and 6/18 from ExxonMobil. In return for the interest in the licences, ExxonMobil has taken a 50% interest in FEL 3/18 which contains the Iolar prospect,Interest in FEL 3/18 is now held by Nexen Petroleum UK Limited (50% + operator) and ExxonMobil Exploration and Production Ireland (offshore south) Limited (50%). Interest in FEL 5/18 and FEL 6/18 is now held by ExxonMobil Exploration and Production Ireland (offshore south) Limited (25% + operator), Equinor UK Ltd (50%) and Nexen petroleum UK Limited (25%).