Corrib, fiscal changes dampen Irish oil enthusiasm - Teeling

The importance of a successful oil discovery offshore Ireland “cannot be exaggerated”, according to Petrel Resources chairman John Teeling.

John Teeling: "Ongoing potential problems with the development of the Corrib field offshore Mayo continue to reflect poorly on the attitudes of some Irish people toward hydrocarbon development.”

The importance of a successful oil discovery offshore Ireland “cannot be exaggerated”, according to Petrel Resources chairman John Teeling.

The company said drilling was likely to place in its Porcupine Basin exploration blocks, off the west coast, in 2016 or 2017. But Teeling admitted that factors such as the problems at the Corrib field off Mayo and the change by the government of the fiscal regime have dampened market enthusiasm for oil and ...