Corrib partner Statoil’s Irish losses treble to €126.5m

PRE-TAX losses at one of the partners in the €2.5 billion Corrib gas field, Statoil, increased more than three-fold last year to €126.5 million.

The chief factor behind the losses at Statoil Exploration Ireland Ltd (SEIL) was a €67m impairment charge relating to the field.

The Norwegian-owed energy giant has a 36.5% share in the field, with Shell owning 45% and Canadian company Vermilion owning the rest.