There have been no new commercial discoveries of oil and gas within the territory of the State since the discovery of the Corrib Gas Field in 1996.
With first gas expected in the first half of 2015, the Corrib gas project will make a significant contribution to the island's security of supply situation. It is estimated that the project will have an operating life span of between 15 to 20 years and gas production will on average meet 42% of all island gas demand over the first 2 years of operation declining thereafter. I understand that the bulk of the gas produced from the Corrib field will be supplied to the national grid via the 149km pipeline constructed by Bord Gáis Networks and which runs from the Gas terminal in Bellanaboy Co Mayo to Ballymoneen outside of Galway.