LONDON, Feb. 26�Enterprise Oil PLC said Monday its partners had approved its 500 million Irish pound subsea development of Corrib gas field.
The Atlantic Margin field in more than 1,100 ft of water will be developed through the use of seven subsea wells tied back to a central gathering manifold. A pipeline will move the gas to an onshore facility.
Enterprise Energy Ireland Ltd. opened the field in 1996 on Block 18/20. Development of Corrib, thought to hold 25 billion cu m of gas, is due to start this year and be completed by 2003.
The terminal and processing plant will be built on the coast of County Mayo in northwestern Ireland, said Enterprise.
Tests last year at the field, considered the first significant find off Ireland since Kinsale Head in 1973, showed flow rates of up to 60 MMcfd.
More than 146 million Irish pounds have been spent in the exploration and appraisal process.
Last October, the Irish government announced a 100 million Irish pound project to construct an onshore pipeline linking the processing plant with the national grid to ensure gas sales could start in early 2003.
Enterprise was operator of Corrib with 45%. Statoil Exploration (Ireland) Ltd. had 36.5%, and Marathon International Petroleum Hibernia Ltd. 18.5%.
Frank Fahey, Ireland's Marine and Natural Resources minister, said development of Corrib is opportune, since production from Ballycotton and Kinsale fields is in sharp decline at a time when gas demand in the country is rising.
