By Gordon Deegan: Friday, December 20, 2013
The company driving the project, Shell E&P Ireland Ltd (SEPIL), confirmed yesterday that the Corrib Gas Partners last year spent a further €250m on the project.
Gas was originally expected to flow from the field in 2003 resulting in the project likely to now be 12 years behind the schedule, and the outlay more than four times the initial estimate of €800m.
Shell has a 45% share in the field with its two partners, Statoil having a 36.5% share and Canadian-owned Vermilion owning the remaining 18.5% share.
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