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Thumbs down for Corrib terminal

April 30, 2003, 18:50 CEST

The Irish authorities have refused planning permission today, 30 April, for a terminal to receive gas from the offshore Corrib field, in which Statoil has a 36.5 per cent holding.

Plans from operator Enterprise Energy Ireland called for the terminal to be built at Bellanaboy Bridge in County Mayo on the north-western coast.

The partners in the field will now evaluate this rejection by the authorities and consider alternative options for a development.

Containing some 25 billion cubic metres of gas, Corrib lies 70 kilometres from land in 350 metres of water and was due to come on stream in the second half of 2005.

It was discovered by Enterprise in October 1996, and several appraisal wells have since been drilled in the structure.

The development plan has been based on using subsea production installations tied back by pipeline to the land terminal.

Enterprise Energy Ireland, a Shell subsidiary, has 45 per cent of the field, while Marathon International Petroleum Hibernia holds 18.5 per cent.