Ramco gets two new gas exploration licences

Brian O’Mahony, Chief Business Correspondent

This follows hot on heels of the recent announcement by the group that drilling off Kinsale had been far better than originally expected.

The company’s existing Seven Heads gas field nearby is due to start producing natural gas by the end of this year. According to its own estimates, it could be in a position to supply up to 10% of Ireland’s existing natural gas requirements. At present, over half of our gas requirements are imported as reserves from the Kinsale Head region continue to be run down. This latest exploration zone targeted by the group is called Midleton, situated 60km from Seven Heads.