New gas field found off coast of Cork

Island Oil and Gas have discovered another new gas field off the Cork coast.

The Irish exploration company, which has been using the Petrolia rig to search for gas, said today that a well in the Schull Field had successfully tested dry gas at a rate of 21 million standard cubic feet per day.

Island chief Paul Griffiths said: “We are delighted with the positive drilling results from Schull which have added a new dimension to the Celtic Sea gas play in an area that had previously remained under-explored.

“Our 2006 and 2007 drilling programmes have delivered four successful gas wells which now form the basis for growing our Celtic Sea gas business.”

The gas was found at between 2,332 feet and 2,599 feet below the Petrolia.

The well encountered a gross gas column of 292 feet and Island believes the discovery would be a stand along field.

The company has now commissioned at study at their successful finds at Schull, Old Head and West Seven Heads gas fields. One option would to be use at least one of the gas fields as a gas storage facility to allow for an increase in winter gas production at a time when gas prices are traditionally higher.

Another option is the use of one of the gas fields as a potential, short-term, national strategic gas reserve.