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Irish Offshore Energy’s an Irish company is primarily focused to progress the phased commercial development in oil and gas exploration and production in the north Celtic sea basin.
Irish Offshore Energy’s primary focus is to progress the phased commercial development of Oil and Gas Fields in Ireland. The company holds an 40% working interest in, and is operator of, prominent oil fields.
The Oil Fields are located in 100 metres of water, approximately 50km, close to the Kinsale gas fields. One of the largest undeveloped oil and gas fields offshore Europe and has been independently assessed to potentially contain approximately 350 million barrels of recoverable oil/gas.
Registered as a new company and was listed on the Exploration Securities Market of the Irish Stock Exchange
Acquired substantial exploration assets in the north celtic sea basin.
Following the successful drilling and testing of wells in the North Celtic Sea Basin, the company completed a series of post-well studies in order to assess the in-place volumetric resource estimate.
In March 2023, Irish Offshore Energy partners announced the flow rates from this well, results which far exceeded pre-drill expectations with oil rates in excess of 3,500 BOPD from a 7 m vertical section of reservoir.
Following the completion of four new technical studies in early 2022, including a Competent Persons Report (CPR) we are confident that there is an attractive economic and technical case for moving forward with plans to optimise
Irish Offshore Energy supports Government and EU policy in relation to tackling the challenges of climate change. Ireland’s commitment to achieving net-zero carbon emissions by 2050 cannot be achieved without transition planning. Successful development in conjunction with industry and government, can contribute significantly to energy transition en route to a carbon neutral economy in Ireland.
Irish Offshore Energy understands that any potential development and production activities at the Oil Fields would need to be carried out in a manner which seeks to minimise emissions of greenhouse gases.
Irish Offshore Energy is committed to achieving this throughout the lifetime of any such project. Oil and gas are expected to remain part of the Irish and global energy mix to some degree for at least 30 years.
Irish Offshore Energy has the potential to provide significant strategic and fiscal value to Ireland, assisting Ireland’s secure transition to a carbon neutral economy.