The announcement comes amidst media reports of Marathon undertaking a strategic review of its Irish gas business and possibly seeking an offer for these assets.
Island Oil & Gas said that the acquisition of the assets could add considerable value through cost savings and synergies to its portfolio, given their proximity to its Celtic Sea assets.
Paul Griffiths, CEO of Island Oil & Gas, said: We see this as a potential opportunity to add serious value to our portfolio of owned and operated assets. We already have a strong regional position and can use our experience to take on and develop the assets to the advantage of both our shareholders, and the wider Irish economy.
