International exploration company Predator Oil and Gas will, next month, accelerate efforts to land partners to help develop gas assets it holds in Irish waters.
It has said an asset it holds in the Celtic Sea could be a “game-changer” and compare in size to the Corrib field off the west coast.
Shell has sold its remaining stake in the Corrib gas field, formally marking its exit after nearly two decades of involvement.
The UK company, one of the largest oil and gas firms in the world, announced yesterday that it had completed a deal to offload a 45 per cent interest in the gas field to a unit of the Canada Pension Plan Investment Board.
Vermilion Energy considers exploration of Corrib Deep prospect to boost potential life of 'world-class' gas field
The incoming operator of the Corrib gas field has outlined plans to expand the project, while telling investors that it doesn't expect to pay tax on proceeds from the field.
Vermilion Energy said opposition to the project had "now largely dissipated".
It said it had acquired $1.3bn (€1.15bn) in so-called "tax pools" as part of the deal to take over operatorship.
Energy giant currently in the midst of selling up to €26.3bn of assets to cut its debt pile
Shell has completed the sale of its stake in the Corrib gas field off the Mayo coast, ending its involvement in the most controversial infrastructure project in the history of the State.
News Release - Issued by Shell to Sea - April 12th, 2015 - For immediate release
-- Shell to Sea send submission on RTE's Public Service Statement --
Shell to Sea have today sent in a submission to RTE as part of RTE's public consultation on the updating of their Public Service Statement [1]. In the submission, Shell to Sea claimed that RTE had failed to inform the public in an honest and balanced manner on the Corrib Gas project.