Minister Browne praised Ramco and the other Seven Heads Lessees for having the enterprise and courage to go ahead with the development, as a number of other petroleum companies had considered developing the field but had failed to bring it to fruition. He said, I wish the developers well with the project. It will provide a welcome boost to Irelands indigenous energy output. Depending on production levels achieved, it is expected that the field could supply 10 to 15 % of Irelands gas requirements over the life of the field.
The field has a forecast production of around 300bcf. and an estimated economic life of 15 years to 2018. First gas is forecast for October 2003. The field development plan is for a six well subsea development tied back by a 34 kms. 18 pipeline to the Kinsale Alpha platform operated by Marathon International Petroleum International Limited. Agreements are in place that permit the use of Marathons existing Kinsale offshore facilities and the export pipeline to the Inch Terminal.
In welcoming this development the Minister said that it was only possible for the Operator to carry out this development economically by using the existing facilities of Marathons Kinsale Gas Field and new technology.
The Minister also welcomed the fact that the Seven Heads Development will contribute to the extension of the life of the existing Kinsale Gas Field. He added, This is good news on the local employment front as it will ensure the maintenance of a number of jobs for Marathon, and create new jobs in the area of the Seven Heads Development.
The Seven Heads Gas Field lies west of the Kinsale Head Gas Field in the North Celtic Sea Basin. It is some 30km long by some 8km wide, about 45km from the Cork coast and about 20km southwest of the Kinsale Head Bravo platform at its nearest. It lies within water depths ranging from 97 M to 104M. The field was declared commercial by the Seven Heads Lessees in July 2002 and a lease demising the petroleum to the Seven Heads Lessees issued in November 2002.
The Minister has given his approval to Ramco Seven Heads, the operator on behalf of the Seven Heads Lessees for the development of the Seven Heads Gas Field under the Petroleum & Other Minerals Development Act, 1960 and also gave his consent to construct a pipeline for the development under the Gas Act 1976, as amended.
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