Vermilion Energy earned €55.9 million last year from its 20 per cent interest in the Corrib gas field, as it continued to effectively pay no tax on gas produced off the west coast of Ireland.
The Canadian oil and gas producer also announced a 200 per cent increase in its capital investment in Corrib for 2020, pumping €2 million into maintenance works to improve productivity as it detailed a 16 per cent decline in gas flow for 2019.
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