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By William C McLaughlin

Now we know.  It`s official.  The Atlantic Margin which runs down from Greenland, past the west coast of Scotland and Ireland, to the west coast of Africa, has been identified by Cairn Energy as an under-explored area with great potential. 

Scotland, take note, exploration has now commenced in Ireland's Atlantic Margin.  Two licences, about 100 miles off Ireland, at the Spanish Point gas condensate and the Burren oil discoveries, are estimated to contain more than 200 million barrels recoverable oil equivalent.

Cairn believes there is the potential to make further bigbdscoveries in the area.  The Porcupine Basin, off Ireland`s west coast, has huge exploration and development potential according to Cairn. 

In the Dunquin Prospect, off SW Ireland, ENI and Repsol are drilling the 1.7 billion barrel oil equivalent gas condensate.  The Barryroe Block, in which Esso made finds in the 1970s, contains around 340 million barrels recoverable oil reserves.  The Irish Government offer more attractive terms for exploration and development than the UK.  Cairn is to spend £50 million hunting for oil and gas off the Irish coast.

Some pertinent points emerge from this Irish good news story.  First, some of the Irish finds go back decades.  Have similar large finds been made off the Scottish west coast in the Scottish North Atlantic sector, but put on 'hold' for now?  We know that the oil majors have been 'sniffin' around for oil and gas in the Atlantic, off Scotland's west coast, for many decades, and that significant finds of oil and gas were made and put under 'wraps' until it was economic to extract this vast Scottish wealth. 

Second, the Scottish North Atlantic sector is part of this rich Atlantic Margin.  Third, why the big publicity splurge about Ireland`s Atlantic Margin oil and gas reserves but virtual total silence about the oil and gas reserves in the Scottish North Atlantic sector, off Scotland`s west coast (I`m not talking about west of Shetland here, I`m talking about off the west coast of Scotland)? 

We don`t want to get the Jocks too excited about their massive wealth before the Indy Referendum in 2014, do we? Fourth, Ireland is independent and will benefit financially from every drop of oil that flows from its massive reserves.  Compare that with Scotland, where every penny of Scottish oil and gas revenues go straight to London.  The independent Irish have control over tax on their oil exploration and development.  The Scots do not and are apparently too stupid and incapable of managing their own massive oil and gas wealth.

Irish eyes are smiling all the way to the bank.  Scottish eyes are blinkered while they lose the benefits of all their oil and gas revenues to London and are told blatant lies about their oil and gas resources declining.  Do you think the Irish would throw their lot back in with England and give London all their oil and gas revenues. 

Paddy aint daft.  Scottish eyes could be smiling too in 2014.  The choice is yours.

Comments  

 
# GogsyBroon 2013-05-11 08:06
[Admin - Gratuitous insult removed]

There has been exploration over Irish waters for decades - many companies have drilled, but there has never been a huge boom as the results have generally been disappointing. No mention of the huge Corrib gas field - nearly 10 years late due to the stupidity and parochial nature of the locals and government . That put a lot of companies off exploring - the government suggested they were not pro-industry. However since they went bust, then they are desperate to get any revenues and have changed their stance - hence the recent uptick in activity.

Dunquin is an oil prospect being drilled by Exxon - the worlds biggest oil co. do try harder.

[Admin - ExxonMobil controls 27.5pc of the Dunquin prospect, with Italian firm Eni holding another 27.5pc.

Spanish energy firm Repsol owns 25pc and UK-based Sosina has a 4pc interest. Irish exploration firm Providence Resources has a 16pc interest in the prospect.]


There is a lot of excitement over the uk Atlantic margin - recall the huge fuss made on this site by the $500m investment by BP on the Clair field.

[Admin - We will give you the benefit of the doubt on this occasion and assume your comments on the Dunquin field were an honest mistake and not a deliberate attempt to mislead.

Also, please be aware that gratuitous insults will see your posts removed in future and may lead to your account being blocked if repeated.]
 
 
# maisiedotts 2013-05-11 09:36
Quoting GogsyBroon:
There is a lot of excitement over the uk Atlantic margin - recall the huge fuss made on this site by the $500m investment by BP on the Clair field.


Hmm ..... but if Scotland votes YES next year there is no UK Atlantic margin except a small potion via NI. That lack of connection England/Wales to the North Atlantic was part of the reason why Scotland was chosen for the nuclear sub base at Faslane.
 
 
# GogsyBroon 2013-05-13 04:58
Exxon ARE the operator of the Dunquin well - therefore they manage the well operations on behalf of the partners. My comment was not misleading on this point.
 
 
# gerrydotp 2013-05-11 09:43
Now I wonder if the English Whalla heading out to Rockhall with the Union Flag has anything to do with this development?
 
 
# xyz 2013-05-11 10:38
My thoughts exactly .. but let's remember Rockall is part of Inverness-shire

www.panoramio.com/.../30033000
 
 
# gerrydotp 2013-05-11 15:47
I learn something new every day, many thanks.
g p
 
 
# cuckooshoe 2013-05-11 19:10
energy-pedia.com/.../...

UK: Shell looking to the Western Isles for future oil bonanza

19 Dec 2005

It is one of Britain’s most depressed and hostile environments, but the Western Isles could be on the brink of an economic boom after one of the world’s biggest energy firms signalled plans to begin test drilling for oil off the coast of Lewis. Shell has applied for a licence to drill a deep-water exploration well 58 miles northwest of the island and executives


What happened next?

offshore-sea.org.uk/.../...

9.19 Our estimates suggest that any SEA 7 fields could make a very significant contribution to UK government revenues during their lifetimes.
 

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