Source: Providence Resources
A study to determine the potential of establishing a natural gas storage and carbon sequestration offshore Ireland, the Ulysses Study has identified a suitable location in the Kish Bank Basin, offshore eastern Ireland.
First announced in August 2008, the Ulysses Study covered the northern and western sectors of the shallow water Kish Bank Basin and was focused on assessing the gas storage and carbon sequestration potential of the basin. These studies have now confirmed a site which may be suitable for offshore natural gas salt cavern development, similar to those recently proposed for development in the Lough Larne area of Northern Ireland.
In addition, further geotechnical studies recently completed have confirmed published figures that the basin could host an effective carbon storage capacity of c. 270 million tonnes.
The Ulysses Study is being conducted by a 50/50 joint venture between Providence Resources, through its wholly owned subsidiary EIRGAS Limited, and Star Energy Group (a wholly owned subsidiary of Petronas, the state oil company of Malaysia).