Located 83km off Ireland’s northwest coast, in water depths of 350m, the Corrib gas field is estimated to produce around 260 MM scf/d of gas, which is 45,000 barrels of oil equivalent per day (boe/d).
Shell E&P Ireland operates the project with 45% stake while other partners include Statoil Exploration Ireland with 36.5% interest and Vermilion Energy Ireland with 18.5% stake.
Shell upstream international director Andy Brown said: “It is good news for Ireland as the provision of Corrib gas improves security of supply for the Irish energy market.
“Delivering gas from Corrib will bring many long term benefits to the Irish economy and consumers.”
In addition to providing 175 long term jobs over the next 15-20 years, the field is expected to meet up to 60% of gas needs in the country at its peak production.
The gas produced from the Corrib field will be transported to the Bellanaboy Bridge Gas Terminal for processing in north-west Mayo through a pipeline.
The processed gas will then be transferred into the Gas Networks Ireland (GNI) network for further deliveries to Irish gas consumers.
Statoil UK and Ireland development and production activities senior vice-president Tove Stuhr Sjøblom said: “The output from Corrib will be an important addition to Statoil’s international production portfolio.
“The project has created many local jobs in the development phase and we are confident that the project will also contribute positively locally and nationally in the operational phase in terms of value creation and energy security.”