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: June 8, 2012
The National Maritime College of Ireland was delighted to welcome pilots from Port of Livorno to the college on May 28th for a week. The pilots attended a Pilot Refresher Simulation course and Bridge Resource Management for Pilots in our full mission 360 degree simulator. There was also an opportunity for our guests to see some of the local sights Cork has to offer, including Cork Ports Ops office. We are certainly very much looking forward to many more visits from the pilots in the near future.
Port of Livorno Pilots at the NMCI
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Posted: April 8, 2011
There will be a SEFtec NMCI Offshore sponsored fundraiser for Cobh Juvenile GAA held at the Curraheen Park Greyhound Stadium on the 6th of May.
Mr. Tom Griffin, Head of Offshore Survival Training at the NMCI, launched the new fundraising drive on the 1st of April at Cobh’s Carrignafoy premises to help raise finance for defibrillator units at the club. read more…
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Posted: February 16, 2011
“Coming together is a beginning. Keeping together is progress. Working together is success.” Henry Ford
Navigating around New York harbour, repairing a flooded ship and oaring through a stormy sea were just some of the challenges faced by the participants on our team building course at the NMCI. This fantastic day brought together everyone involved in GTSS which includes GAC, NMCIS and Blue Communications.
GTSS is a partnership between the National Maritime College of Ireland; the worlds most advanced maritime training facility, and GAC, the global provider of marine, shipping and logistics solutions. GTSS offers niche, innovative and high value training courses for maritime professionals, led by a team of highly respected industry-leading training providers. read more…
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Posted: January 6, 2011
SEFtec NMCI Offshore Ltd (SNO), a public / private joint venture between SEFtec Global Training Ltd and The National Maritime College of Ireland (NMCI), was launched on the 17th December 2010 at the National Maritime College, Co. Cork, by the Minister of Enterprise, Trade & Employment, Batt O’Keeffe.
This venture is a shining example of how to bring together state of the art public infrastructure, in the form of one of the world’s most advanced maritime colleges, with private enterprise’s expertise in not only offshore training, but in the design, manufacture, installation, commissioning and service of training simulators for the global maritime industry. read more…
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