Thursday August 6, 2020

Corrib gas field operator paid €529m dividends to Shell and Nephin Energy

Vermilion Exploration and Production Ireland made the payments to the former owners in 2018 when it bought Shell’s interest in the licence

Daniel Murray

Business Reporter

21st July, 2020
The Corrib gas field is operated by Vermilion Exploration and Production Ireland

New accounts from the operator of the Corrib gas field show the company paid a total of €529 million in dividends to former owner Shell and to Nephin Energy in 2018.

The newly-published financial statements from Vermilion Exploration and Production Ireland detail dividend payments totalling €528,769,418 in the period ending December 2018.

The operator of the Corrib field now owns a 20 per cent interest in the Corrib licence through two separate companies, having bought Shell’s interest...

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