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August 2018

Firm doesn't expect tax bill over €362m Corrib revenues

By: 
Gordon Deegan - Irish Independent

The Corrib Gas partners have reported a 25pc jump in revenues to €362m in the first half of this year in spite of external electricity supply issues hitting production at its gas terminal in the second quarter.

That is according to new quarterly figures provided by Canadian firm Vermilion.

It said production between April and the end of June decreased 7pc quarter-over-quarter and 11pc year-over-year for the first six months.

Posted Date: 
31 August 2018

Corrib Gas sees no tax bill as sales rise 25%

By: 
Gordon Deegan - Irish Examiner

The owners of the Corrib Gas field have posted a 25% jump in revenues to €362m as global gas prices rose in the first half of the year, despite facing a temporary slowdown in production.

That is according to new figures from Canadian firm Vermilion which says that production from the field fell 7% in the three months to the end of June from the previous quarter.

The company also said that given the significant level of investment in Corrib that Vermilion doesn’t expect to pay income taxes out of Ireland for the foreseeable future.

Posted Date: 
31 August 2018

Corrib sale to proceed 'before year-end'

By: 
Rob Watts - Upstream

Shell and the Canadian pension fund planning to buy the Anglo-Dutch supermajor’s 45% interest in the Corrib gas field off Ireland have agreed to extend the deadline to complete the deal after failing to conclude the transaction by the end of June as hoped.

The Canada Pension Plan Investment Board (CPPIB), Canada's biggest public pension fund, and Shell said in recent days that they are now working to conclude the deal before the end the year.

Neither party revealed any reasons for the delay.

Posted Date: 
27 August 2018

Corrib buyers file for regulatory approval

By: 
Gavin McLoughlin - Irish Independent

The companies set to take over the Corrib gas field after the departure of Shell have filed for regulatory approval from the Competition and Consumer Protection Commission (CCPC).

A Canadian pension fund - Canada Pension Plan Investment Board (CPPIB) - agreed to buy Shell's interest in the field last year for €830m.

Vermilion Energy, a Canadian oil and gas business, is due to take over operatorship of the project. It will take a sliver of the pension fund's interest in the field after regulatory approval.

Posted Date: 
13 August 2018

Investigation finds IT upgrade responsible for Corrib gas release

By: 
Lorna Siggins - Irish Times

‘Deficiencies’ led to non-odourised gas emergency plan being put in place as a result

An investigation by the State’s energy regulator into the release of non-odourised gas from the Corrib gas refinery in north Mayo last year says it was caused by the upgrading of an information technology (IT) system.

“Deficiencies” in Shell E&P Ireland’s (SEPIL) operating procedures led to the incident last September, but there were no safety consequences for staff at the Corrib gas refinery or members of the public “in the immediate vicinity”, the Commission for Regulation of Utilities (CRU) has found.

However, the risks to consumers from gas which had no safety odour prompted Gas Networks Ireland (GNI) to activate the natural gas emergency plan. Some 10,000 customers in the Galway-Mayo region were told to shut off their supplies.

The energy regulator says it took “enforcement” actions against Shell and GNI, the national gas networks operator, as a result of its investigation.

No fines were imposed on Shell or on GNI, under a series of enforcement options which the State energy regulator says are “progressive in nature”.

Posted Date: 
1 August 2018

System upgrade led to gas supply fault - CRU report

By: 
George Lee - RTE

The Commission for Regulation of Utilities has said that odourless gas was pumped into a gas network in Co Mayo last year following a computer system upgrade.  

The finding was made in a report published by the CRU into what caused the gas to be pumped into the network at the Corrib gas refinery in Bellanaboy.

The incident had required 10,000 homes and business in Mayo and Galway to switch off their gas for three days.

Posted Date: 
1 August 2018

Corrib Gas Field Pipeline Survey, Maintenance & Engineering Works In July & August

By: 
Afloat.ie

#MarineNotice - Shell E&P Ireland Limited has begun a campaign of inspection of the Corrib Gas Field pipeline and associated infrastructure with repair and maintenance as required. Engineering tasks are also scheduled for well P3.

Posted Date: 
1 August 2018

Predator targets Ireland’s Corrib gas field

By: 
David McPhee - EnergyVoice

An application has been made by Predator Oil and Gas for a Frontier Exploration Licence for a subsea tie-back to the Corrib gas field in the event of a potential gas discovery in the Corrib South well.

Jersey-registered Predator announced today that “sufficient progress is being made to warrant commencing initial planning” to ensure consents and approvals are in place for drilling to begin in 2020.

Posted Date: 
1 August 2018