Offshore staff

DUBLIN, Ireland – Ireland has unveiled a new corroboration exercise involving research institutes in Ireland and Newfoundland-Labrador and private enterprise that aims to further interest in frontier offshore exploration.

The two-year research program will use advanced modeling software to generate plate reconstruction models designed to show Ireland and Canada’s sedimentary basins in their original positions when the two countries were near neighbors.

Ideally, the results will help geoscientists identify prospective areas offshore Ireland with similar geology.

Over the last 30 years, around 150 wells have been drilled in the Irish Atlantic sector, with a commercial success ratio of less than 1 in 30.

However, the area is thought to be potentially prolific in hydrocarbons, with reserves of 10 Bboe, according to Irish government estimates.



06/24/2010