30th Dec 2015 16:14
LONDON (Alliance News) - Royal Dutch Shell PLC on Wednesday said natural gas has started to flow from the Corrib gas field, offshore Ireland.
The Corrib gas field is located 83 kilometres off Ireland's northwest coast and is expected to produce around 260 million standard cubic feet per day of gas, which is 45,000 barrels of oil equivalent per day.
"Today's announcement is a positive step for our gas portfolio," said Shell's Upstream International Director Andy Brown.
"It is also 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," he added.
The Corrib project is a joint venture between Shell E&P Ireland Ltd, which owns 45%, Statoil Exploration Ireland Ltd, which owns 36.5%, and Vermilion Energy Ireland Ltd, which owns 18.5%. Shell E&P Ireland is the project's operator.
Shares in Royal Dutch Shell 'A' shares were trading down 0.9% at 1,546.50 pence on Wednesday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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