Filings from the Companies Registration Office in Ireland have shown that Norwegian operator Statoil injected €150million into the Corrib gas gield, according to reports.
The company owns a 36.5% stake in the field off the West of Ireland, while Shell owns a 45% stake and Vermilion owns 18.5%.
Last month oil major Shell announced first gas from the field after receiving final government approval which was originally discovered in 1996.
Residents living close its gas plant described the sight of flaring from the site as “frightening” earlier this month.
Tove Stuhr Sjoblom, senior vice president for Statoil’s development and production activities in the UK and Ireland, said last month: “There have been several challenges for the operator and
its partners to overcome on the road to this important milestone.”
The field is expected to produce the equivalent of 45,000 barrels of oil per day and has a projected lifespan of between 15 and 20 years. It contains about one trillion cubic feet of gas.
The Corrib gas field is located 83km off Ireland’s northwest coast in water depths of almost 350 metres.
