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AAPG, Paris 11-14 September 200 5 Exploration Opportunities in Ireland

AAPG, Paris 11-14 September 200 5 Exploration Opportunities in Ireland Noel Murphy, Peter Croker, Michael Hanrahan & Clare Morgan Petroleum Affairs Division, Department of Communications, Marine & Natural Resources, Dublin. TOPICS. INTRODUCTION > OVERVIEW EXPLORATION & PRODUCTION STATUS

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AAPG, Paris 11-14 September 200 5 Exploration Opportunities in Ireland

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  1. AAPG, Paris 11-14 September 2005 Exploration Opportunities in Ireland Noel Murphy, Peter Croker, Michael Hanrahan & Clare Morgan Petroleum Affairs Division, Department of Communications, Marine & Natural Resources, Dublin

  2. TOPICS • INTRODUCTION • > OVERVIEW • EXPLORATION & PRODUCTION STATUS • > SEISMIC, WELLS & LICENCES • > PRODUCTION & DEVELOPMENT • 3. FACTORS EFFECTING E&P • > ACCESS TO DATA & INFORMATION • > DEMAND FOR OIL & GAS • > INFRASTURCTURE • > LICENSING TERMS • > PROSPECTIVITY • > ACCESS TO ACREAGE • 4. INITIATIVES TO PROMOTE THE SECTOR • 5. SUMMARY

  3. LAGGAN ROSEBANK - LOCHNAGAR BENBECULA DOOISH CORRIB IRELAND CONNEMARA 35/8-2 35/8-1 Kinsale Area Fields

  4. ‘Discoveries’

  5. 0 50 100 Kilometers

  6. Kish & CIS Basins Celtic Sea & Fastnet Basins 0 50 100 Kilometers

  7. Donegal Basin Hatton Basin Erris Basin Rockall Basin Slyne Basin Kish & CIS Basins Porcupine Basin Celtic Sea & Fastnet Basins Goban Spur Basin 0 50 100 Kilometers

  8. Rockall Basin 2 1 Donegal Basin Erris Basin 3 Slyne Basin 4 Porcupine Basin 26 Goban Spur Basin 1 OffshoreIreland 121 Exploration Wells (1971 – 2005) West of Ireland 37 Exploration Wells (1977 - 2003)

  9. Rockall N. Porcupine Oil Price Slyne/Erris/Rockall Porcupine S. Porcupine FRONTIER ROUNDS

  10. 1 : 9 1 : 4.5 Exploration wells drilled West of Ireland (1977 – 2004)

  11. Dooish Corrib Exploration Wells (1994 – 2005)

  12. TOPICS • INTRODUCTION • > OVERVIEW • EXPLORATION & PRODUCTION STATUS • > SEISMIC, WELLS & LICENCES • > PRODUCTION & DEVELOPMENT • 3. FACTORS EFFECTING E&P • > ACCESS TO DATA & INFORMATION • > DEMAND FOR OIL & GAS • > INFRASTURCTURE • > LICENSING TERMS • > PROSPECTIVITY • > ACCESS TO ACREAGE • 4. INITIATIVES TO PROMOTE THE SECTOR • 5. SUMMARY

  13. Seismic Acquired: 1965 - 2004 SEISMIC

  14. Wells Drilled: 1971 - 2005 WELLS

  15. Exploration Licences: 1970 – 2005 (end June – end December each year) LICENCES

  16. Production Forecast: P50 (Proven & Probable) Case RESERVES: 950 Bcf Approx. GAS PRODUCTION

  17. Concession Map with Gas Fields Corrib Field Kinsale Area & Seven Heads Fields

  18. TOPICS • INTRODUCTION • > OVERVIEW • EXPLORATION & PRODUCTION STATUS • > SEISMIC, WELLS & LICENCES • > PRODUCTION & DEVELOPMENT • 3.FACTORS EFFECTING E&P • > ACCESS TO DATA & INFORMATION • > DEMAND FOR OIL & GAS • > INFRASTURCTURE • > LICENSING TERMS • > PROSPECTIVITY • > ACCESS TO ACREAGE • 4. INITIATIVES TO PROMOTE THE SECTOR • 5. SUMMARY

  19. Projected gas demand* Gas Supply vs Demand Projected gas demand based on Gas 2025 Project, CW case.

  20. Infrastructure - onshore

  21. CORK Inch Terminal Infrastructure - offshore

  22. CORK Inch Terminal Corrib Gas Field Bellinaboy Terminal Infrastructure - offshore

  23. Ireland’s Licensing & Fiscal Terms • no state participation or royalties • 25 % corporation tax • generous write-off provisions • Frontier Exploration License Fiscal Terms Comparison, 2004; updated Sept 2005 Oil Fields Gas Fields

  24. Prospect Inventory Status: June, 2005

  25. 2005 NE Rockall Basin Licensing Round DOOISH Announced: 27 July 2004 Acreage on Offer: 65 full & 12 part-blocks Area: approx. 15, 800 sq km Licence Duration: 16 years Terms: 1992 Licensing Terms Closing Date: 31 May 2005 The hydrocarbon potential of this area has been illustrated by the Dooish discovery which encountered a significant column of hydrocarbons. 2005 NE Rockall Round 2/05 3/05 FEL 2/05: Shell (50%), Eni (40%) & OMV (10%) FEL 3/05: Island (100%)

  26. Rockall Basin Erris Basin SE NW A. Walsh et al. Statoil (1999)

  27. NW SE SRT-03 Dip Line Tertiary Cretaceous Pre-Cretaceous 2D seismic line from NE Rockall Basin Seismic courtesy of PGS

  28. 2006 Slyne / Erris / Donegal Licensing Round Announced: 25 January 2005 Acreage on Offer: Blocks to be announced Area: approx. 25,000 sq km (gross) Licence Duration: 15 years Terms: 1992 Licensing Terms Closing Date: 15 March 2006 The hydrocarbon potential of the area is illustrated by Corrib gas field. The infrastructure for the field could significantly reduce development costs for future diiscoveries. 2006 Slyne/Erris/Donegal Round

  29. Corrib Gas Field 18/20-3 Appriasal Well Base Chalk Tertiary Volcanics Bajocian Lst Sherwood

  30. MIDDLE JURASSIC OIL SHOWS LOWER TRIASSIC GAS DISCOVERY

  31. NW SE Corrib Development (1 tcf) Inishbeg Prospect E W Donegal Basin Inishbeg Prospect Corrib Analogue S. Boldy 2004

  32. TOPICS • INTRODUCTION • > OVERVIEW • EXPLORATION & PRODUCTION STATUS • > SEISMIC, WELLS & LICENCES • > PRODUCTION & DEVELOPMENT • 3. FACTORS EFFECTING E&P • > ACCESS TO DATA & INFORMATION • > DEMAND FOR OIL & GAS • > INFRASTURCTURE • > LICENSING TERMS • > PROSPECTIVITY • > ACCESS TO ACREAGE • 4. INITIATIVES TO PROMOTE THE SECTOR • 5. SUMMARY

  33. E&P PROMOTION • Early in 2004, Ireland embarked on a concerted campaign to promote the E&P sector. This has involved… • Consultation with the Industry • Scheduling of Licensing Rounds • Participation in Conferences, Exhibitions and Workshops, and • the putting in place and execution of a ‘business plan’ to address geotechnical and other factors likely to act as barriers to entry, perceived or otherwise, during 2005

  34. ‘Business Plan for Irish Oil & Gas Industry’ • The ‘business plan’ includes the following: • geotechnical studies to determine the yet-to-find hydrocarbon • resources of Atlantic Ireland basins, • 2) licensing, fiscal & commercial analyses to demonstrate that potential discoveries can be economically developed, and • 3) marketing of Ireland as a prime place to explore for oil and gas to the benefit of both exploration companies and the host country ... goal is to help Ireland become self-sufficient in natural gas (and oil) by 2015/2020 !

  35. ‘Business Plan for Irish Oil & Gas Industry’ • Present status: • Petroleum systems analysis completed for Slyne, Erris, Donegal basins by PGS and ACECA. Substantial Yet-To-Find resource potential has been established. • A new assessment of seismic data quality west of Ireland shows that while variable, very significant uplifts can be achieved • Licensing and Regulatory frameworks have been reviewed mapped out; ways to streamline are identified; and an open and developing gas market is available. NEXT STEP: beginning a regional resource evaluation of the other major Atlantic Ireland basins in October…

  36. ‘Business Plan for Irish Oil & Gas Industry’ Triassic Palaeogeography N. Meadows, 2004

  37. What Ireland has to offer: - Accessible data - Growing local energy demand - Developing infrastructure - Favourable terms - Acreage with good prospectivity - An easy place to operate, and - An exciting future… Welcome to…

  38. Welcome to…

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