Country report
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34 Pages

Ireland upstream summary

Ireland upstream summary

Report summary

Exploration activity began offshore Ireland in the early 1960s yet the country remains under-explored and few commercial discoveries have been made. To date, exploration has yielded five commercial gas fields but no commercial oil fields. The bulk of offshore exploration activity occurred in the 1970s and 1980s in the Celtic Sea and Porcupine Basin. During this period the Kinsale Head and Seven Heads, Spanish Point, Helvick and Ballycotton discoveries were made. However, due to the ...

What's included?

This report includes 2 file(s)

  • Country Overview PDF - 1.14 MB 34 Pages, 14 Tables, 10 Figures
  • Country Overview XLS - 517.50 KB


Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key upstream issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream summary is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Executive summary
  • Key facts
  • Location maps
  • Geology
    • Introduction
    • North and South Celtic Sea Basins
    • Fastnet Basin
    • Southern Irish Sea Basins
    • Kish Bank Basin
    • Donegal Basin
    • Slyne and Erris Basins
    • Porcupine Basin
    • Goban Spur
    • Rockall Basin
    • Onshore
  • Exploration
    • Licensing
    • Offshore
      • Onshore
    • Drilling
      • Drilling activity
    • Recent and Future Drilling Activity
    • Historical Drilling Activity
    • Onshore
      • Success rates
  • Reserves and resources
  • Production
    • Gas
  • Infrastructure
    • Oil infrastructure
      • Refining
      • Pipelines
    • Gas infrastructure
      • Onshore
      • Offshore
      • Interconnector pipelines
      • Interconnector 1
      • Interconnector 2
      • Northern Ireland
  • Costs
    • Capital costs
      • Capital expenditure by location
    • Operating costs
      • Operating expenditure by location
  • Policy and regulation
    • Key legislation
    • Licensing
    • Historical Background
      • Ambassador/Marathon Taxation Agreement 1960
    • Current Licensing Terms
      • Licensing Terms for Offshore Oil and Gas Exploration and Development 1992
      • Changes to the terms of the Licence Option 2003
      • Licensing Terms for Offshore Oil and Gas Exploration and Development 2007
    • Licence Types
    • Exploration Licences
      • Licensing Option
      • Petroleum Prospecting Licence
      • Standard Exploration Licence
      • Deepwater Exploration Licence
      • Frontier Exploration Licence
      • Reserved Area Licence
    • Production Licences
      • Petroleum Lease
      • Lease Undertaking
  • Fiscal terms
    • Overview
      • Upstream
      • Mid/Downstream
    • Current fiscal terms
      • Concessions
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty and other production taxes
      • Corporate (or Petroleum) Income Tax
      • Product Pricing
      • Sample Cashflow
    • Methodology
      • Marginal Government Take
    • Historical background
      • Petroleum Taxation Statement of 1975
      • Petroleum Taxation Bill of November 1985
      • Revised Petroleum Taxation Statement of Intent, October 1987
      • Irish Finance Bill 2008, passed before the Irish Government in April 2008

In this report there are 24 tables or charts, including:

  • Executive summary
  • Key facts
    • Key facts: Table 1
  • Location maps
    • Country Map
  • Geology
    • Main Sedimentary Basins on the Irish Continental Shelf
  • Exploration
    • Exploration: Table 1
    • Blocks Awarded by Sector (1990-2016)
    • Well Completions Offshore Ireland (1970-2016)
    • Exploration Drilling by Region (1970-2016)
    • Technical and Commercial Success Rates (1970-2016)
  • Reserves and resources
    • Reserves and resources: Table 1
    • Reserves and resources: Table 2
  • Production
    • Production: Table 1
    • Production: Table 2
    • Sales Gas by Region
  • Infrastructure
    • Gas Infrastructure Map
    • Interconnector 1 & 2 Map
  • Costs
    • Capital Expenditure by Region (US$ Million)
    • Costs: Table 1
    • Costs: Table 2
    • Costs: Table 3
    • Costs: Table 4
  • Policy and regulation
    • Policy and regulation: Table 1
  • Fiscal terms
    • Fiscal terms: Table 1
    • Fiscal terms: Table 2
    • GEM models
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