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Ireland

Vermilion currently holds an 18.5% operated interest in the Corrib gas field, offshore Ireland.  Production at Corrib commenced on December 30, 2015 and volumes reached full plant capacity of 350 mmcf/d (gross) by the end of June 2016.  The Corrib field constitutes around 95% of Ireland's natural gas production.

The Corrib gas field is located approximately 83 km off the northwest coast of Ireland.  Gas is transported to the Bellenaboy Bridge gas plant through 90km of pipeline where it is then processed prior to being delivered to the national grid.

On July 12, 2017, Vermilion and Canada Pension Plan Investment Board announced a strategic partnership whereby Vermilion expects to assume operatorship of the Corrib natural gas project and increase its ownership interest to 20%.

On November 30, 2018 Vermilion assumed contract operatorship of Corrib on behalf of the joint venture partners.  For more information, please refer to the November 30, 2018 press release.

The Corrib project generates significant free cash flow for Vermilion given low operating costs and minimal ongoing capital expenditures requirements.

 


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Vermilion Energy Inc.
3500, 520 3rd Avenue SW
Calgary, Alberta T2P 0R3
Phone: 1-403-269-4884
Fax: 1-403-476-8100
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