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Shell brings final of six wells online at Corrib

 

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Written by Niamh Burns – 15/09/2016 6:00 am

The final of six wells at Shell’s Corrib project on the West cost of Ireland has now been brought online.

The move comes more than a week after Shell was fined over a flaring incident on New Year’s Eve last year.

According to Vermilion, which owns an 18.5% stake in the field, production ramp-up has exceeded expectations and production volumes have now reached full capacity.

In its quarterly results Vermilion said: “Irish production continued to ramp up during the quarter, with better than expected well deliverability and minimal downtime at Corrib since start up on December 30th, 2015.”

Corrib was producing the equivalent of almost 59,000 barrels of oil a day at the end of the second quarter.

Vermillon received gas sales proceeds of $23.3million from Corrib in the three months end to June.

The company also took an impairment charge on the Irish asset with the lower gas prices.

The Corrib field is expected to provide between 60pc and 65pc of Ireland’s gas at peak production.

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