• 2 minutes U.S. Presidential Elections Status - Electoral Votes
  • 5 minutes “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 7 minutes United States LNG Exports Reach Third Place
  • 2 hours Joe Biden's Presidency
  • 12 hours The World Economic Forum & Davos - Setting the agenda on fossil fuels, global regulations, etc.
  • 1 day https://www.prageru.com/video/whats-wrong-with-wind-and-solar/
  • 1 day Is the Chinese CCP Following the Left's Leadership, or the Left Following the CCP's?
  • 37 mins An exciting development in EV Aviation: Volocopter
  • 1 day Here it is, the actual Complaint filed by Dominion Voting Machines against Sydney Powell
  • 8 hours Did I Miss Something?
  • 54 mins The Debate Starts : Remake Republican Party vs. Third Party
  • 13 hours Minerals, Mining and Industrial Ecology
  • 2 days CNN's Jake Tapper questions double amputee purple heart recipient GOP Rep's commitment to democracy. Tapper is a disgrace.
  • 11 hours A Message from President Donald J. Trump - 5 minutes from The White House directly
  • 2 days 'Get A Loan,' Commerce Chief Tells Unpaid Federal Workers
  • 2 days Do Republicans like Liz Cheney, Adam Kinzinger, Mitt Romney and now McConnell think voting for Impeachment can save the party ? Without Trump base what is the Republican constituency ? It's over.

Major Offshore Potential In This Tiny Nation

Introduction

The North Sea has long been in decline. An era in which the British Islands fueled Europe’s oil and gas needs, which has lasted for over a generation, is slowly coming to a close.

But while Scotland (and thus, the UK) has been the base for North Sea oil development, Ireland has largely been left out of the hydrocarbon bonanza. Having never developed its own oil and gas resources, Ireland has been a sort of forgotten step child to its larger neighbor just across the Irish Sea.

However, that could soon change. A recent announcement about the large potential for oil and gas off the coast of Ireland is raising hopes that Ireland’s day may finally arrive. For now, low oil prices will keep rapid development at bay. But when oil prices rebound, with some luck, Ireland may no longer stand in a British shadow in terms of energy development.

Offshore Ireland

Ireland has never been a significant player in the energy world. It faces some challenging exploration conditions, including rough Atlantic waters and drilling depths often between 500 and 2,000 meters.

Offshore Ireland has been a tough nut to crack. There have been over 200 wells drilled around Ireland, but only two of them have yielded commercial discoveries. Royal Dutch Shell (NYSE: RDS.A), with its partners Statoil (NYSE: STO) and Vermilion Energy (NYSE: VET), developed the Corrib gas field, a natural gas project off the northwest coast of Ireland. Even that had an…




Oilprice - The No. 1 Source for Oil & Energy News