Enterprise Oil has plugged and abandoned its Shannon exploration well after failing to find gas in the prospect which lies just eight kilometres south of the successful Corrib field off the west coast.
The Shannon well was drilled to a depth of 2,965 metres but no hydrocarbons were encountered and the company's semi-submersible drilling rig will leave the location shortly. The costs of drilling the well totalled £6 million (€7.6 million). A spokesman for Enterprise Oil said that the failure to find hydrocarbons was disappointing. There had been high hopes for the project after the company confirmed it had made a significant gas find in the nearby Corrib field earlier this summer.
"We had hoped, given that Corrib worked out so well, that this was so near and had a similar formation, to have found gas," he said. He stressed that the failure to find gas in the Shannon prospect would not have any effect on the Corrib find. In August, the company confirmed that the area was rich in gas and could eventually supply up to half of the Irish market's growing gas needs.
The company is currently working on feasibility studies for the potential development of the gas find. Enterprise operates the project and has a 45 per cent stake in the Corrib venture while Saga Petroleum Ireland holds 21.5 per cent, Marathon International Petroleum Hibernia has an 18.5 per cent interest and Statoil Exploration (Ireland) owns 15 per cent.
The Enterprise spokesman said the company would now concentrate on the Corrib field.
