Friday 20 October 2017

Make oil prospects pay

Over the decades, oil exploration in Irish waters resulted in many disappointments.

But it also resulted in the accumulation of much knowledge.

That knowledge was collected, preserved, and in time reinterpreted in the light of technological advance on a staggering scale. It has made it possible for oil companies to drill off our south-west coast, in stormy waters far from land and at daunting depths. Ultimately it has made it possible for the Petrel company to announce a large find there, and potentially a vastly profitable one.

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