Ramco, the operator of the Seven Heads gas field in the Celtic Sea, said today that daily production has fallen due to weakening pressure in the underground wells.
A technical team reviewing the gasfield believes it is likely that water has condensed from the gas and has accumulated in the well bores.
The company said it will begin a "blow-down" programme which it is hoped will clear the water. The blow-down programme is currently scheduled to commence later this week and should take around five days to complete.
For the longer term, it is investigating a permanent arrangement to access one of the three compressors already in place on the Kinsale platform which could be adapted to facilitate Seven Heads gas flows.
Ramco said since the problems arose it has put additional back up transportation arrangements in place which cover gross field production rates.
Ramco shares fell 20 per cent on the London Stock Exchange after the announcement.