Ireland has long been an area of interest for Vermilion given its strong regulatory framework and stable fiscal regime. We are proud to have been involved with the Corrib gas project since 2009, when we acquired an 18.5% non-operated interest in the Corrib gas field, in partnership with Shell Exploration Company B.V. (45% operated interest) and Equinor (36.5% non-operated interest).
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 29, 2021, Vermilion announced an agreement to acquire Equinor’s 36.5 % non-operated interest in Corrib, effective January 1, 2022.
Currently, Vermilion holds a 56.5% interest in Corrib, with CPPIB (Canada Pension Plan Investment Board) holding a 43.5% non-operated interest. Effective November 30, 2018, Vermilion assumed contract operatorship of Corrib on behalf of the joint venture partners.
Please see the July 12, 2017 news release and November 29, 2021 news release for more details.
Although our entrance as an operator into the Irish energy industry is relatively recent, Vermilion has been operating in Western Europe since 1997, when we acquired oil producing assets in France. We also have and participate in operations in the Netherlands (since 2004) and Germany (since 2014). As evidenced by our growth in the region, Western Europe has been, and will remain, a key area of focus for our company.
(Unless otherwise noted, references on this website to “Vermilion”, or “the Company”, or “we”, or “our” collectively refer herein to any or all of the people and operations associated with Vermilion Energy Inc. and/or its subsidiaries including its Irish subsidiary Vermilion Exploration & Production Ireland Limited whose operations and activities are the focus of this website)
Unit 4, Údarás na Gaeltachta
Belmullet, Mayo
F26 R2E9, Ireland
