RE: 5New Gas Field23 May 2020 00:29
Interesting article in Irish Independent recently touting the need for a continued indigenous gas supply in ireland.The article was written by Tom O Brien head of Nephin Energy who bought 43% of the Corrib field from Shell a while back.
Manyana speculated a couple days ago about the possillbility of a tieback to Corrib from Spanish Point .Well it turns our that the same Tom O Brien used to represent Providence Resources as legal council back in 2005 ( in fact did so sucessfully against Transocean in the London courts) So who better to know about Spanish Point than him.
By using higher preasures ,up to 125 bar,subsea pipelines have got smaller and cheaper to lay.Corrib reserves are in decline.Europa acreage repredents more of a punt for Nephin who are financed by the Canadian pension board.Spanish Point has estimates of 1.85 TCF gas alone, Corrib only contained 1 TCF of gas.
The 200k delay is not welcome,but with the markets and equities all squeezed I'm not surprised.