Dempsey Welcomes Promising News From Island Oil and Gas plc’s Drilling Operations at Seven Heads
Dublin, 29th June 2006
Noel Dempsey T.D., Minister for Communications, Marine & Natural Resources today welcomed the announcement by Island Oil & Gas Plc that their appraisal well on the Seven Heads gas field has successfully flowed gas.
“My Department has approved the well’s suspension so that these promising results can be fully assessed with a view to establishing whether the well can be completed as a producer. I am also particularly pleased to see an Irish company demonstrate its technical competence as an operator by drilling the first offshore well of the season in Ireland,” he said.
The well was spudded on 3rd May 2006 by the Petrolia semi-submersible drilling unit and was drilled to a total depth of 3,325 feet measured depth, below rotary table. The rig will shortly commence operations on the second well of the season, an exploration well on the Old Head of Kinsale prospect, close to the Kinsale Head gas field, again operated by Island.
“I am encouraged that Island is prepared to commit the sizable expenditures necessary to explore here. I commend Island for this and wish them every success in their future drilling campaign” said Minister Dempsey.
“Only 10 years ago over 85% of Ireland’s gas needs were met by production from the Kinsale field. Today that position is reversed with over 85% of our gas being supplied via two interconnectors. Security and access to indigenous sources of energy are vital for our national interests and any discoveries of domestic supplies which could reduce our dependency upon imports are to be welcomed,” he continued.
“If drilling operations by the company prove successful and there is a commercially viable reserve there I hope that it can be brought ashore quickly and efficiently via the existing infrastructure in place at Kinsale,” noted the Minister.