A Blog About Human Rights
China?s LGBT Community Mon Apr 15, 2019 19:19 | Human Rights
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US Abortion Restrictions Violating The Human Rights Of Women Thu Mar 14, 2019 15:33 | Human Rights
Human Rights Watch Urges the Human Rights Council to Renew and Strengthen Mandate of UN Commission Tue Mar 12, 2019 21:51 | Human Rights
Human Rights in Ireland >>
For lefties too stubborn to quit
For followers of Left nostalgia? 19:51 Wed Jun 26, 2019 | guestposter
Christy Moore unveiled a plaque to Frank Conroy 15:05 Wed Jun 26, 2019 | irishelectionliterature
Near infinite self-regard and self-importance 11:46 Wed Jun 26, 2019 | WorldbyStorm
I guess Ireland is just collateral damage? 11:08 Wed Jun 26, 2019 | WorldbyStorm
Even Johnson has to accept: no transition period without the EU?s agreement? 08:07 Wed Jun 26, 2019 | WorldbyStorm
Cedar Lounge >>
Life should be full of strangeness, like a rich painting
Some Thoughts on the Brexit Joint Report 11:50 Sat Dec 09, 2017
IRISH COMMONWEALTH: TRADE UNIONS AND CIVIL SOCIETY IN THE 21ST CENTURY 14:06 Sat Nov 18, 2017
Notes for a Book on Money and the Irish State - The Marshall Aid Program 15:10 Sat Apr 02, 2016
The Financial Crisis:What Have We Learnt? 19:58 Sat Aug 29, 2015
Money in 35,000 Words or Less 21:34 Sat Aug 22, 2015
Dublin Opinion >>
Test ? 12 November 2018 Mon Nov 12, 2018 14:28 | namawinelake
Farewell from NWL Sun May 19, 2013 14:00 | namawinelake
Happy 70th Birthday, Michael Sun May 19, 2013 14:00 | namawinelake
Of the Week? Sat May 18, 2013 00:02 | namawinelake
Noonan denies IBRC legal fees loan approval to Paddy McKillen was in breach of E... Fri May 17, 2013 14:23 | namawinelake
NAMA Wine Lake >>
Revised estimates of Ireland's oil and gas resources
Sunday May 27, 2007 15:28 by NMI
Some people are going to get richer on the profits from Irish resources.
It's pretty certainly a conincidence that the day after the news that same bunch will be running the country for the next while broke, an article appeared in Energy Business Review, pointing out how lucrative the huge reserves of gas and oil off the west coast of Fianna Fáil land will be.
Lucrative for the energy companies that is, not for the people of Ireland (unless you count certain people with different morals from the rest of us).
Industry players developing the Atlantic Ridge reserves will no doubt be hoping to avoid the problems encountered by the developers of the Corrib field"
Ireland's upstream boom will produce significant opportunities
25th May 2007
By EBR Staff Writer
Recently revised estimates of Ireland's oil and gas resource endowments paint an upbeat picture of future production levels. If these latest estimates translate into the production levels forecasted, Ireland has the potential to not only meet its indigenous oil and gas needs but also to become a net exporter.
'Content Recent estimates published by the Irish Petroleum Affairs Division of the Department of Marine and Natural Resources indicate significant potential for future oil and gas production levels offshore Ireland.
The majority of these reserves are understood to be located in the Atlantic Ridge, a geological structure running parallel with the west coast of Ireland and part of the same geological formation as the North Sea reserves.
The fact that the Irish reserves are on this geological formation bodes well for their future development. The success of the Norwegian, Danish, Dutch and British fields at the other end of the structure is well documented. Closer to home, fields on the same structure such as Dunquin, which is estimated to contain 25 trillion cubic meters of gas and over 4,100 million barrels of oil, all increase the likelihood that the undeveloped reserves will be both technically and economically recoverable.
A recently published government report shows potential reserves of 130 billion barrels of oil and 50 trillion cubic feet of gas. Given Ireland's geographic location, there is significant scope for these reserves to be exported. Subject to the construction of suitable loading facilities, the oil can be relatively easily exported by tanker to anywhere in the world. The existing gas interconnection capacity with the UK could easily be reversed through the construction of new compression facilities, creating scope to export gas to the UK or even Continental Europe. Construction of LNG export facilities is also a possibility.
If developed, the Atlantic Ridge reserves would give a significant fillip to current indigenous production levels in Ireland. Currently, Ireland produces only a fraction of the gas and oil it needs, creating a significant level of import dependence.
Ireland's first indigenous gas reserves were discovered off the southwest coast in 1971 as a by-product of a search for oil. Currently, the majority of Ireland's indigenous gas production activity takes place off of the Kinsale Head area. Smaller levels of production are sourced from the Seven Heads area, although this development has been significantly impacted by technical problems leading to a rapid decline in output.
Industry players developing the Atlantic Ridge reserves will no doubt be hoping to avoid the problems encountered by the developers of the Corrib field, located 70km offshore the northwest coast. Corrib was first discovered in 1996 by Enterprise Oil and was the first significant new gas discovery in Irish wasters since Kinsale Head. In 2002, Enterprise Oil was acquired by Shell and the operating license of Corrib transferred to Shell, with the project owned by Shell E&P Ireland Limited (45%), Statoil (36.5%) and Marathon (18.5%). A long series of legal and planning related delays relating both to the project itself and associated infrastructure development have resulted in the project remaining years behind schedule.
If the new Atlantic Ridge reserves can be developed in a timely, cost-effective and streamlined manner, significant scope exists to transform the Irish energy sector and create a massive injection to the Irish economy.