Enterprise Oil Moves Ahead with Corrib Field

Enterprise Oil continues to move ahead with its Corrib gas field development offshore the west coast of Ireland, with recent progress on three fronts.

In July, Enterprise and its co-venturers, Statoil Exploration (Ireland) Ltd and Marathon International Petroleum Hibernian Ltd, completed the drilling of the latest appraisal well, which tested at rates of 30 million standard cubic feet of gas per day. This is the fifth appraisal well drilled on the field since its discovery in 1996.

Enterprise has also agreed key terms with the trading arm of Bord Gais Eireann for sales of approximately 60 percent of its share of Corrib gas, and is actively discussing opportunities with other major gas users to place its remaining uncontracted gas into the Irish market.

Most recently, the company and its co-venturers have been granted planning permission by Mayo County Council for the building of an onshore terminal at Bellanaboy Bridge to process gas transported from the offshore Corrib field. This notice comes after an extensive and wide-ranging consultation process in the region. The grant of planning permission is subject to appeal during the month following the decision.

Brian O'Cathain, Managing Director Enterprise Energy Ireland, commented: "We are pleased to be making significant progress on Corrib following our award of contracts for the development in June, and remain committed to the consultative process that has brought the project to this point. We have gained much from our discussions with stakeholders, particularly in County Mayo, and we welcome their input to our plans for Corrib. This is an important development for both the region and Ireland as a whole, and we will continue to work with all relevant stakeholders to ensure a successful outcome to this project."