Island reports gas find off Cork coast

EXPLORATION firm Island Oil & Gas says it has made a significant gas discovery off the Cork coast.

The company has been drilling the Old Head of the Kinsale gas field since early July and believes it has made a discovery of up to 120 billion cubic feet of gas.

The field is located just 25 kilometres from the existing Marathon production facilities at the Kinsale field. This would allow any gas recovered to be produced at a much lower cost.