Island Oil and Gas to reassess dormant Schull gas field

ISLAND Oil and Gas has started to drill its second well of its 2007 two-well drilling programme in the Celtic Sea offshore Ireland.

Well 57/2-3, in which Island has a 62.5% share, is to reassess the Schull gas field found by Total in 1987, which has lain dormant since then due to the high cost of recovery.

Higher gas prices and the proximity of the Seven Heads infrastructure off Kinsale “makes this gas accumulation a completely different commercial proposition compared to when it was first discovered”, the company said in a statement.