In a report issued this week by one of Ireland’s top economic consultants the completion of the Corrib project will represent an investment of €800m over the next three years with €400m of this being spent in Counties Mayo and Donegal.
This investment announcement was made by Shell E&P Ireland Limited – operators of the project – as Goodbody Economic Consultants updated their assessment of the economic impact the project will make during both its construction and operations phases.
According to Goodbody Economic Consultants, work on the final phase of the project, will require an average of 705 people to be employed between now and the end of construction with an average of 382 of these jobs in Mayo and Donegal.
In addition, the equivalent of a further 760 full-time indirect jobs will be sustained through spin-off business generated by the project, 450 of these in Mayo and Donegal.
Speaking as the investment figures were announced, Shell E&P Ireland Limited’s Managing Director, Michael Crothers, highlighted the significance of Corrib on many fronts. saying, “At a time when the economy is in a difficult place, the Corrib gas project is a beacon in terms of investment and job creation.
Killybegs in County Donegal has been a service base for offshore and wells activities associated with the Corrib project over the last five years.
It is estimated that between now and completion of the project, there will be further activity in Killybegs associated with wells maintenance and other offshore activities.
In welcoming the news Deputy Thomas Pringle said, “In Killybegs businesses in the town have been successful in carving out a support business for the service of off-shore exploration on the west coast.
“This has become an important part of employment in the town and the news that Killybegs has a role to play in the on-going development of off-shore resources is a vote of confidence in those businesses. This experience has helped Killybegs to be able to position itself to play a role in the development of off-shore renewable energy as well, that can provide opportunities for the future.”