Ireland upstream summary Report

Country Report 30 September 2024

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Report summary

Ireland has five onstream gas fields: Kinsale Head, South West Kinsale, Ballycotton, Seven Heads, and Corrib. Start-up of the latter in 2015 has reversed the decline in domestic gas production, and accounts for around 80% of total gas output. At present, there are no producing oil fields in Ireland; however, start-up of the offshore Barryroe field is expected in the early 2020s. Frontier exploration projects, involving several Majors, are ongoing.

Executive summary
Key facts
Location maps
Key companies
- International investors
- Majors
  - Current
  - Previous
- Irish E&Ps
Geology
- Introduction
  - Atlantic Margin basins
  - Southern Ireland basin
  - Eastern Ireland basins
- Atlantic Margin basins
  - Goban Spur
  - Porcupine basin
  - Rockall basin
  - Slyne-Erris basin
- Southern Ireland basins
  - Fastnet basin
  - North and South Celtic Sea basins
- Eastern Ireland basins
  - Kish Bank basin
  - St. George's Channel and Central Irish Sea basins
- Onshore
Exploration
- Licensing
- Recent licensing activity
  - 2015 Atlantic Margin licensing round
- Historical licensing activity
  - Licensing activity in the 1990s
  - Licensing activity in the 2000s
  - Licensing activity in the 2010s
  - Onshore licensing
- Drilling
  - Drilling activity
- Overview
- Key recent and future conventional E&A activity
  - Celtic Sea
  - Atlantic Margin
- Historical conventional E&A activity
  - Offshore
  - Onshore
Reserves and resources
- Overview
- Reserves
Production
- Oil
- Gas
Infrastructure
- Oil infrastructure
  - Overview
- Gas infrastructure
- Onshore gas infrastructure
  - Shannon LNG
- Offshore gas infrastructure
  - Interconnector pipelines
  - Northern Ireland
Costs
- Introduction
- Capital costs
  - Capital expenditure by location
- Operating costs
  - Operating expenditure by location
Policy and regulation
- Key legislation
  - Ambassador/Marathon Taxation Agreement 1960
  - Licensing Terms for Offshore Oil and Gas Exploration and Development 1992
  - Changes to the terms of the Licence Option 2003
  - Licensing Terms for Offshore Oil and Gas Exploration and Development 2007
  - Petroleum (Exploration and Extraction) Safety Act 2015
  - Prohibition of Onshore Hydraulic Fracturing 2017
  - Climate Action and Low Carbon Development Bill 2021
- Licensing
- Licence types
- Exploration licences
  - Petroleum Prospecting Licence (PPL)
  - Licensing Option (LO)
  - Standard Exploration Licence (SEL)
  - Deepwater Exploration Licence (DEL)
  - Frontier Exploration Licence (FEL)
  - Reserved Area Licence
- Production licences
  - Petroleum Lease
  - Lease Undertaking
Fiscal terms
- Overview
  - Upstream
  - Midstream and downstream
- Current fiscal terms
- Concessions
  - State equity participation
  - Bonuses, rentals and fees
  - Royalty and other production taxes
- Additional petroleum taxes
  - Petroleum Production Tax
- Corporate income tax
- EU temporary solidarity contribution (2022-23)
- Indirect taxes
- Product pricing
- 1 more item(s)...