Vol. 506 No. 6
27 Mr. Bell asked the Minister for the Marine and Natural Resources the information available to his Department regarding the extent of the gas discovery made by a company (details supplied) in the Corrib Field; if it is regarded as commercial; the outcome of any such meetings; and if he will make a statement on the matter. [16009/99]
As I have explained previously on 11 February and 13 May this year, the position in relation to the Corrib field is that Enterprise Oil and its partners Saga Petroleum and Statoil Exploration (Ireland) Limited drilled an appraisal well last year and produced gas on test which flowed at a stabilised rate of 63 million cubic feet of gas per day. The Deputy may be aware that Saga recently sought my consent for the assignment of part of its interest in the two licences covering the Corrib field to Marathon.
It is not possible to give precise figures for the size of the gas accumulation at this stage and this will not be possible until the accumulation has been fully appraised. A further appraisal well was commenced on 1 May and is currently drilling. The Deputy will appreciate that all data to hold all data from the well must remain confidential. Additional appraisal work may be undertaken in the light of the results of the current appraisal well.
A lengthy and thorough evaluation of all data obtained will be necessary to ascertain if the find is commercial. The final decision as to whether the field is commercial will depend on such factors as the size of the field, the quality of the reservoir, the quality of the gas, flow rate of the well, the market price and the cost of development of the field.
Should the results of their appraisal programme show that the gas can be commercially produced it will be necessary for Enterprise Oil to apply to me for a petroleum lease and submit a plan of development for the field for my approval.
