Posted: October 3, 2013
Worker conned out of €4,000 in oil rig job scam
By Caroline Crawford
Irish Independent 03 October 2013
http://www.independent.ie/irish-news/worker-conned-out-of-4000-in-oil-rig-job-scam-29630565.html
A man who thought he’d secured his dream job abroad was left shattered to discover it was all a scam – which cost him €4,000.
Damien Glynn (32), from Oranmore in Co Galway, is warning others to beware after he discovered he had been the victim of a sophisticated fraud.
He had forked out €4,000, given up his job in Ireland and travelled over to Scotland to start his new post on an oil rig when he realised it was a con.
The scam uses information from established companies to offer jobs before conning their victims out of thousands.
It involves fake certificates from the Metropolitan Police, the UK Border Agency, a reputable gas and oil company, and an insurance firm and has already hit dozens of unsuspecting workers.
Mr Glynn, an engineer, had recently retrained to work on offshore rigs for the oil and gas industry when he was targeted. He was offered a post following an in-depth online interview and made arrangements to move to Aberdeen.
In order to secure the post, Mr Glynn was told he had to deal with an “immigration lawyer” to obtain the necessary work documents and an insurance company to receive travel insurance cover.
“I had googled the company and all the details stacked up, right down to the managing director’s details,” he said.
“The interview questionnaire was very detailed and very much linked to the work I’d be doing. It took four hours to fill out. After they got back to me with an offer, there was a lot of back and forth – up to 50 emails sorting things out.
PERMIT
“I didn’t understand why I needed the work permit but it was offshore work so I just went with it. I guess I just wanted to believe it too much.”
After forking out £960 for insurance and £815 for a work permit, which came to €2,300, Damien made arrangements to travel to Scotland to take up the post. But he then had to fork out twice for flights after the scam artists cancelled the first meeting at the last minute.
“I left my job in Galway and was arranging to meet with the company director in Scotland. He put me off for a week saying he was away, but I know now the money hadn’t gone through at that stage. I booked new flights but once they had the money I couldn’t reach them.
“I had flights booked so I went over anyway but when I arrived at the offices in Aberdeen I knew it was a scam. The receptionist knew what had happened as soon as I spoke to her and said there had been a few in that week,” he said.
Police in the UK and gardai have been made aware of the scam by the victims and the reputable firms whose logos have been used. However, they say that it is virtually impossible to track down such scam artists who close up within weeks and start up new scams.
Mr Glynn has now returned to Galway and managed to go back to his old job. He is urging others to be vigilant.
By Caroline Crawford
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Posted: July 29, 2013
Monday, July 29, 2013 by Geoff Percival- Irish Examiner
“The main representative body for Ireland’s exploration industry has called for the Government to hold back on plans to increase the potential tax take from companies drilling for oil and gas in Irish waters.
As it currently stands, the Government stands to receive between 25% and 40% of profits from any commercial field in Irish waters — of which there are currently none (although Barryroe, in the Celtic Sea, is on course to be the first).
However, Natural Resources Minister Pat Rabbitte recently said that he intends to seek independent expert advice, by the end of this year, on what level of fiscal gain should be achieved by Ireland and how the State should go about achieving it.
A recent Joint Oireachtas Committee called for the profit take to be as high as 80%, which would mirror the Norwegian model.
However, while it takes 78% of the profit from any commercial field in its waters, Norway — as well as having a more mature and developed offshore exploration industry than Ireland — also repays the same percentage of drilling costs to companies if said field is found to be dry; something Ireland — in current economic times — could not do.
At the end of a week that has seen international oil giant ExxonMobil put an indefinite pause on its interest in Ireland by finding no sign of any commercial hydrocarbons at initial drill at the highly-anticipated Dunquin field off the south-west coast of the country, the Irish Offshore Operators’ Association has called for a rethink by Government.
“We think the Government should be cautious in its approach,” said Fergus Cahill, chairman of the Irish Offshore Operators’ Association.
“It would be a great mistake to change the fiscal terms at this stage, especially in light of Dunquin, and at a time when we are just beginning to see more activity in Irish waters and more companies come in,” he added.”
http://www.irishexaminer.com/business/call-not-to-raise-oilgas-tax-take-238196.html
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Posted: May 28, 2013
Providence: Barryroe Well
Nick Webb – 26 May 2013
Providence Resources’ oil find at Barryroe, off the coast of Cork, could generate taxes of €4.5bn over the life of the well, according to a new report from PriceWaterhouseCoopers.
This is the equivalent to the entire annual corporate tax take in Ireland for 2011, according to PwC.
The State, it says, would earn money from the corporate tax and from the windfall taxes generated by the huge find off the south coast.
The PwC report suggests that 10 finds equivalent to Barryroe would have the potential to generate 13,500 jobs during the development phase and 11,500 jobs during the production phase of these fields. An entire new specialist oil services industry would need to be developed near the south coast to cater for the oil fields.
The Barryroe find is a game-changer for the Irish oil industry, as it is the first commercial oil field discovered off Ireland.
Recent months have seen massive activity off Ireland’s coast with the arrival of Kosmos, Cairn Energy and other new parties seeking to explore for oil. Fastnet Oil & Gas last week announced surveys had revealed that its Kinsale acreage could potentially contain up to two billion barrels of oil.
The next two months will prove critical for the future of Tony O’Reilly’s Providence Resources. Results of drilling at its Dunquin well may come through in July, while the €400m-listed firm may also ink a deal to farm out a major chunk of its valuable Barryroe oil field off Cork.
Industry sources believe that Providence may be taken over by an oil major such as Petronas or Exxon if the Dunquin results are positive.
However, at the same time as all this exploration is under way, the Government is examining whether to hike taxes levied on oil finds.
Irish Independent
http://www.independent.ie/business/irish/providence-oil-find-could-generate-45bn-for-state-says-new-report-29297083.html
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Posted: May 22, 2013
Fastnet Oil says independent assessment established presence of significant potential.
An independent assessment of explorer Fastnet Oil and Gas’s Deep Kinsale target off the south coast indicates that it could contain 2.3 billion barrels of oil.
Fastnet said today that an independent assessment of the licence area by SLR Consulting established the presence of a significant potential “unrisked” resource in place of over 2 billion barrels.
The group said that SLR carried out the assessment in accordance with generally accepted international procedures.
In February, Fastnet agreed a deal with Petronas subsidiary Kinsale Energy to farm into the so-called “deep Kinsale prospect”. It lies deep below the existing Kinsale gas field, which has by now given up all but 3 per cent of its reserves.
As part of its deal with Kinsale Energy, Fastnet carried out engineering and geological studies and a wide-ranging, three-dimensional seismic survey.
Fatnet said the independent assessment confirms that oil-bearing sands encountered in the Middle and Lower Wealden wells drilled by Marathon in the early 1970’s occur in the same geological structure that hosts the shallow producing gas sands in the Kinsale gas field.
The Deep Kinsale structure covers an area of up to 162 square km.
“Deep Kinsale is a large anticlinal structure, which has the potential to contain a significant oil accumulation directly beneath the producing Kinsale gas field and the two platforms, in the Celtic Sea,” Fastnet founder shareholder John Craven said.
Earlier this month, the oil and gas company, which is focused on near term exploration acreage in Africa and the Celtic Sea, was awarded a new licensing option in the North Celtic Sea. The option covers blocks in the Mizzen Basin, known as East Mizzen, and the western end of the North Celtic Sea Basin, offshore Ireland.
From The Irish Times-Pamela Newenham
http://www.irishtimes.com/business/sectors/energy-and-resources/deep-kinsale-could-contain-2-3bn-barrels-of-oil-1.1402539
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Posted: May 13, 2013
From The Irish Examiner – By Geoff Percival
The Government is set to announce details of a major research contract to assess Ireland’s true oil and gas potential in the coming weeks, with industry rumours suggesting Italian giant Eni could be signed up as project partner.
The project will focus on a seismic survey off the west coast, to judge the oil and gas reserve potential of the under-explored Atlantic Margin area.
While the provision of “relevant depth of seismic data”, formed part of the recommendations from last week’s Providence Resources/PwC study into the potential of the Irish offshore sector, this seismic tender has been in the Government’s plans for nearly a year.
There has been speculation that Eni could be signing up to invest around €70m in carrying out the study, but the Department of Communications, Energy and Natural Resources has been tight- lipped over the details.
A department spokesperson said that the procurement process has concluded and project planning is at an “advanced stage”. “It is anticipated that an announcement will be made shortly,” they added.
Minister of State at the Department, Fergus O’Dowd, first announced the intention to tender for a seismic data specialist to undertake the detailed survey last year, when addressing the Atlantic Ireland Conference in Dublin.
Speaking then, he said that such a survey would be “a huge step forward” and would go a long way to revealing the true potential of Ireland’s frontier basins.
The real genesis of the programme was the Government’s 2011 Atlantic Margin Licensing Round, which attracted a positive response from industry but still resulted in large areas on offer receiving no applications, despite being located in basins containing proven petroleum systems.
A lack of available seismic data was viewed as a significant contributing factor that needed to be addressed, according to Government. The small number of exploration wells drilled in Irish waters, over the past decade, has been blamed on low levels of available intelligence, with poor seismic data coverage previously described by Government as “the biggest impediment to exploration”.
Last week’s PwC study into the potential of Ireland’s offshore exploration industry suggested that thousands of jobs could be created per year and the Exchequer could significantly increase its annual corporate tax take if certain existing barriers to entry, for overseas players, are removed.
“The oil and gas industry has the potential to transform local and national economies, but a critical mass of activity is needed before a substantial indigenous supply base can develop,” it said.
Extract From http://www.irishexaminer.com/business/contract-to-assess-oil-potential-231055.html
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