Tamboran Resources, a Canadian-based shale gas exploration company, has said it has discovered a gas field with potential reserves of 4.4 trillion cubic feet of natural gas straddling the border of Northern Ireland and the Republic.
The company said it was confident it could develop a shale gas project based on the discovery, which follows the granting of licences to conduct early stage analysis in both jurisdictions. Tamboran estimates it could create up to 1,200 jobs on both sides of the Irish border if it can attract investors for a multibillion pound extraction project.
Richard Moorman, Tamboran chief executive, said the company’s analysis of seismic and drill information from existing wells suggested very substantial shale gas reserves in the north Leitrim area of the Republic and Fermanagh area in Northern Ireland.
“Allowing for even modest rates of recovery, the energy and economic benefits would be tremendous,” Mr Moorman told the Financial Times.
Tamboran’s research is based on a study of existing seismic and geological information data, which was compiled by other companies that drilled wells in the region over the past 50 years.
Advances in gas extraction technology can make previously uneconomic discoveries recoverable through “fracking”, whereby shale gas trapped in rocks underground can be released by fracturing rocks using high-pressured water, sand and chemicals.
The process has been heavily criticised by environmental groups, who claim it can lead to water contamination. In May, France became the first country to ban fracking.
Total US annual production of shale gas was 3.11 trillion cubic feet in 2009, while proved reserves were 60 trillion cubic feet, according to the US Energy Information Administration.
Tamboran’s findings on the gas discovery, which are due to published on Wednesday, are likely to galvanise an already vocal campaign in Ireland against shale gas fracking. The latest “anti-fracking” campaign meeting is due to be held in Enniskillen in Northern Ireland on Saturday.
Under pressure from local campaign groups, Pat Rabbitte, Ireland’s minister for energy, last year asked the Environmental Protection Agency to conduct a study on fracking amid concerns raised about potential damage to the environment.
Tamboran and another company, Lough Allen Natural Gas Company, have been granted option licences in Ireland permitting them to carry out preliminary testing in county Leitrim. Campaigners want an outright ban placed on fracking. Tamboran has also been awarded an exploration licence in Northern Ireland.
