Skip to main content

December 2018

Shell cuts its losses by selling stake in Corrib gas field

By: 
Paul O’Donoghue - The Times

Shell has sold its remaining stake in the Corrib gas field, formally marking its exit after nearly two decades of involvement.

The UK company, one of the largest oil and gas firms in the world, announced yesterday that it had completed a deal to offload a 45 per cent interest in the gas field to a unit of the Canada Pension Plan Investment Board.

Posted Date: 
3 December 2018

Corrib operator eyes expansion and tax-free cash

By: 
Gavin McLoughlin - Irish Independent

Vermilion Energy considers exploration of Corrib Deep prospect to boost potential life of 'world-class' gas field

The incoming operator of the Corrib gas field has outlined plans to expand the project, while telling investors that it doesn't expect to pay tax on proceeds from the field.

Vermilion Energy said opposition to the project had "now largely dissipated".

It said it had acquired $1.3bn (€1.15bn) in so-called "tax pools" as part of the deal to take over operatorship.

Posted Date: 
3 December 2018

Shell counting the cost as sale of Corrib gas field completed

By: 
Colin Gleeson - Irish Times

Energy giant currently in the midst of selling up to €26.3bn of assets to cut its debt pile

Shell has completed the sale of its stake in the Corrib gas field off the Mayo coast, ending its involvement in the most controversial infrastructure project in the history of the State.

Posted Date: 
3 December 2018