NEW RESEARCH REVEALS STAGGERING TOTAL OF OIL COMPANIES’ ESTIMATES FOR IRISH RESERVES
-- Paul Murphy MEP to launch groundbreaking report on Irish oil and gas --
What: 'Liquid Assets' - a definitive guide to Ireland’s oil and gas resources
Who: Paul Murphy MEP to launch
Where: Buswell's Hotel, Kildare St, Dublin
When: Monday, 10th September, 2012
Time: 11a.m.
Groundbreaking research to be published in a report on Monday reveals the duplicity of the oil industry. Oil companies claim Ireland’s offshore is ‘unproven’, with almost no exploration taking place and with little or no chance of success. On this basis, they insist Minister Rabbitte must continue issuing licences on the extremely ‘attractive’ terms introduced by Ray Burke 20 years ago.
Providence’s recent announcement that the Barryroe field contains up to 1.6 billion barrels of oil provides a glimpse of the true picture. The big question is: what is the total of all the geological estimates issued by exploration companies for their licensed areas in Irish territory?
The answer is a staggering figure, the result of months of painstaking research by campaigners, who trawled through figures issued by oil exploration companies. The figure will be revealed at Monday’s press launch of ‘Liquid Assets’, a definitive guide to the issues around Ireland’s hydrocarbon resources and how the State manages them.