Predator ramps up Irish gas drill plans

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Predator ramps up Irish gas drill plans
Predator ramps up Irish gas drill plans

International exploration company Predator Oil and Gas will, next month, accelerate efforts to land partners to help develop gas assets it holds in Irish waters.It has said an asset it holds in the Celtic Sea could be a “game-changer” and compare in size to the Corrib field off the west coast.The company is headed up by a veteran of the Irish exploration sector, Paul Griffiths, former boss of now defunct operators Island Oil and Gas and Fastnet Oil and Gas. Predator, which also has interests in Morocco and Trinidad, has been in talks with prospective partners for its Irish assets for much of this year.Updating on operations, yesterday, it said it will be “accelerating” ongoing discussions with potential partners interested in its Irish portfolio during January, “with a view to combining its assets in a substantive low-risk drilling and re-entry programme in 2020 to target potentially material gas resources”.Predator’s Irish focus is solely fixed on gas exploration.It said its previously-announced application to convert a licensing option it holds adjoining the Corrib gas field is “progressing”.READ MORE: Finance Minister rejects junior ministers’ demands for increased expenses paymentsIt has also submitted an application to extend a licensing option it has in the Celtic Sea for 12 months to the end of next November.An independent reservoir engineering study has shown the potential to recover more than one trillion cubic feet of gas from the Celtic Sea asset over 11 years.It is also believed Predator is interested in working with Corrib owner Vermilion, in some capacity, as the latter looks to extend the life of the field.
Source: Business News