Containing some 25 billion cubic meters of gas, Corrib lies 70 kilometers from land in 350 meters of water and was due to come on stream in the second half of 2005. It was discovered by Enterprise in October 1996, and several appraisal wells have since been drilled in the structure. The development plan has been based on using subsea production installations tied back by pipeline to the land terminal.
Enterprise Energy Ireland, a Shell subsidiary, holds a 45 percent interest in the field, while Marathon International Petroleum Hibernia holds 18.5 percent and Statoil holds the remaining 36.5 percent.
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