Island Oil & Gas said today it is interested in buying "all or part of" Marathon Oil's assets off Ireland.
The announcement follows speculation Marathon is reviewing its Irish operations, which could result in a sale if an appropriate offer is received.
"The acquisition of the assets could add considerable value through cost savings and synergies to Island's portfolio, given the proximity to Island's Celtic Sea assets," Island said.
Island chief executive Paul Griffiths said: "A successful acquisition of these assets involving Island Oil and Gas would see the first Irish involvement in the Corrib gas field development and the potential for the Strategic National Gas Reserve to be provided by an Irish company."