Energy company Tamboran Resources has announced that initial studies have confirmed that a substantial natural gas field is present in southwest County Fermanagh in Northern Ireland.

A gas exploration project for Northern Ireland could create 600 full time jobs, up to 2,400 indirect jobs and deliver natural gas energy security for the next 50 years.

The company, which proposes to invest £6 billion in Northern Ireland, was commenting following completion of the first part of its analysis to determine the feasibility of shale gas exploration in Northern Ireland.

Tamboran's technical team of over 20 professionals have been involved in substantial natural gas projects worldwide and have very high confidence that they can commercially develop this project in Northern Ireland. The full analysis will be published by the end of this year.

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Tamboran, who last year was granted an Exploration Licence by the Department of Enterprise, Trade and Investment, is focusing its Northern Ireland operations in the southwest area of County Fermanagh. The Company has been granted a Licensing Option in an adjacent area in the Republic of Ireland where it is focusing in north County Leitrim.

The north-west region of Ireland is the only part of the island which is not currently connected to the gas network.

Richard Moorman, Chief Executive of Tamboran said: "Our initial analysis suggests very substantial shale gas reserves in the southwest Fermanagh area. Allowing for even modest rates of recovery, the energy and economic benefits would be tremendous.

"Security of energy supply is a primary concern for all governments. Our analysis indicates that the island of Ireland is in the fortunate position to have substantial gas reserves under its feet. In southwest Fermanagh alone, we believe that there is up to 50 years of the present daily gas consumption of Northern Ireland. Realising these reserves would secure gas supply for decades, protect consumers and businesses from market uncertainty and negate the risks associated with being over dependent on unpredictable external supplies. County Fermanagh would be able to attract additional businesses that would benefit directly from a secure local natural gas supply.

Natural gas from shale has made a substantial positive impact in North America already.

"We are undertaking a full Environmental Impact Assessment, which will set out the specific criteria under which the company must safely and responsibly conduct its operations to the very highest standards."

(CD/GK)