KEYFACT Energy
THE operator of the Corrib gas field off the west coast of Ireland has cut the value of the asset due to falling gas prices.
Accounts for Vermilion Exploration and Production Ireland reveal that a €5.7m non-cash impairment was shouldered against the gas field in the first quarter of this year. That followed a €2.3m non-cash impairment of the assets in the final quarter of 2019.