IRELAND

IRELAND

CAPITAL: DUBLIN

POPULATION: 5 mm

AREA (on): 70,300 km²

OIL PEAK: na

SUPPLY

Ireland has no oil production and no production at all onshore. Although small sub-commercial oil accumulations have been found in the Celtic Sea, no oil output is forecast apart from very small volumes of NGLs from the Corrib field due onstream in 2009.

Offshore gas production commenced in 1978 from the Kinsale Head field in the Celtic Sea. This field is now in decline, however, Irish output will recover as new gas is produced from the Corrib gas field in the Slyne Trough offshore northwest Ireland. Other small discoveries in the Celtic Sea can also provide modest amounts of gas but no major new developments are forecast.

DEMAND

Exceptional growth in the Irish economy through the late 1990s led to rapidly increasing oil consumption and commencement of imports of gas from the UK. After 2007 oil consumption fell back due to the recession and will probably remain lower for some years, before falling again after 2016.

Gas consumption was also growing with the economy, although the recession has now had a similar effect on gas demand. Nevertheless growth is expected to resume soon as new indigenous gas comes onstream whilst imports drop a little.

This is a simple forecast - detailed forecasts including offshore and onshore, deep water splits, sedimentary basins and major fields and drilling etc. can be purchased for most countries.

An onshore and offshore oil and gas production, consumption and drilling activity forecast report on this country can be commissioned,

including all relevant charts. Contact us for price and contents list.