Ireland Oil and Gas Prospect Map (Indymedia)

Sponge Bob · 29-11-2012 11:04AM #1

Let me add a few caveats.

1. You would think that we were producing all these fields and banking the coinage. We are not. Most are 'prospects' only at this time. Only ones marked in red are in production or in late stage development and near production.
2. Many prospects are held by small companies that need to partner with a big company to take it any further. No comments on the companies that have the licences as that is irrelevant.
3. The big big question is whether a 'mesoscale' formation in the South Porcupine ( a stack of 3 strata) contains lots of oil and gas. If so the prospects in other licence areas start to look very good by implication and inference. A full drilldown is expected into this structure in 2013 which will prove matters one way or another. A big company will do the drilldown.
4. There is excitement now, if the drilldown is a diappointment then the disappointment will spread ( I can guarantee that) or else the excitement will get rather frothy and sorts of mad numbers will be quoted. Remember that no field is 100% recoverable and a 30% recovery rate is good so 1Billion barrels = 300m barrels at most and probably a lot less.

That all said THIS is an excellent map of PROSPECTS and a flurry of activity is expected in the next few years as these Prospects are hopefully converted into accurate reserves which accuracy will determine whether the Hydrocarbon is extracted and recovered. Well done to Indymedia for producing this.

LINK TO ORIGINAL ( much larger size)

http://www.indymedia.ie/attachments/sep2012/mapoilgasireland_aug2012_1.jpg

mike65 · 29-11-2012 11:49AM

indymedia are I presume readying flotillas for every one of the fields in that map.

patrickbrophy18 · 29-11-2012 09:57PM

Being the Dalkey man that I am, I decided to go to the latest meeting concerning the exploration project 6 kilometers off Dublin Bay which was held at Fitzpatrick's Castle Hotel. Apparently, the oil and gas prospect off all corners of the Irish Coastline could be worth as much as €1,500,000,000,000 (Yes, you read it right, 1.5 trillion euro).

However, the government has failed to reverse a change in legislation made in the 80's that deals with the exploration and extraction of oil or gas. In other words, any private company that is granted a foreshore license to perform exploration and extraction of the oil is under no obligation to sell it within Ireland. Furthermore, they don't have to create any jobs in the country. The rate of tax is completely minuscule and can be written off from the companies expenses.

Even worse, if an oil spill does occur, they don't have to clean up any oil that would more than likely be washed ashore. This is not the only part of the process which would endanger marine life. The exploration phase involves the use of sonar waves which (by itself) has a host of nasty side effects for (and can even be fatal to) marine life.

Essentially, our government has sold us out yet again. Only this time, they have given away an asset that could have taken us out of the recession 10 fold!:eek::mad:

Here are two videos which should give y'all a deeper insight into the statistics of foreshore licensing:

DublinBayConcern.ie - Why are we 'Giving Away' our Oil & Gas?

https://www.youtube.com/watch?v=H-FM6OYmu9g

DublinBayConcern.ie - What are our Government Thinking?

https://www.youtube.com/watch?v=VCZUcm5i02I

I hope this sheds some light on the subject. So, spread the word!

Ben D Bus · 29-11-2012 10:03PM

patrickbrophy18 wrote: »

Essentially, our government has sold us out yet again. Only this time, they have given away an asset that could have taken us out of the recession 10 fold!:eek::mad:

You say that as though the oil has already been extracted and sold.

Also, an organisation called Dublin Bay Concern sounds a bit NIMBYish. Will I actually learn something from a partisan video on YouTube?

Sponge Bob · 29-11-2012 10:35PM

Oh Lord can we not have asensible discussion for once. Foreshore licencing is nothing to do with whether we make these companies land oil.

1. It may be the 'wrong kind of oil'.
2. We only have refining capacity for around 50% of our requirements. We need a larger refinery or a new large refinery anyway.
3. None of these refineries willl be in Dalkey (or near Dalkey) the Shannon estuary would be the best place for one.
4. Foreshore licencing is not related to hydrocarbon licencing. It is , in fact, something else.

Most of these prospects, if confirmed and developed , shall be extracted by FPSO which means the oil will be tankered not piped to a refinery anyway.

Gas is different, that will be piped ashore to a terminal....and yes we probably need to build another one of them ......sigh.

Shannon Estuary, again, seems like the likely spot for a gas terminal too or perhaps Cork Harbour.

FURET · 24-11-2013 12:01PM

Any updates on exploration and/or confirmation of resources?

Jayuu · 24-11-2013 08:39PM

This map makes it look as if there is massive oil reserves off the coast. What would be more interesting on this map would be a list of the FAILED prospects and drilling so that the current list could be put in context.

kenobee · 08-12-2013 12:53PM

Lets get a few wells into operation first and then we can worry about what percent goes to the national coffers. Is is possiboe that in 20 years our present debts will seem small in comparison to the mineral wealth we may find by then. Fingers crossed

Ireland Oil and Gas Prospect Map (Indymedia)

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