There are two underdeveloped petroleum accumulations offshore Ireland, the Helvick oil field off the coast of Waterford and the Corrib gas field off the coast of Mayo which offer possibilities for further petroleum production in Ireland.
The Helvick oil field is held under a petroleum lease and the lessee is required to submit a detailed plan of development for the field by the end of April next year for my approval. This is a small oil accumulation, but it would be welcome as a first commercial oil development. Any oil produced from the field would have small quantities of associated gas, but these would not be significant in relation to current gas requirements and may not be put into the national transmission grid.
In regard to the Corrib gas field, the licensees have stated that further work needs to be done to enable a conclusion on commercial viability to be reached. They are currently considering drilling another appraisal well next year after which I would expect that they would be in a position to make a decision on whether the gas can be produced commercially. A decision has not been taken at this time on the location for landing the gas in Ireland, or on how the gas would be brought to market. I note BGE's recent announcement of extending the national grid from Dublin to Galway and Ennis and it is likely that this could have an influence on decisions by the Corrib licensees. The responsibility for the national gas grid is a matter for my colleague, the Minister for Public Enterprise.
The Deputy may wish to note that in the 2025 report published recently by Bord Gais, in regard to ways in which expected demand will be met after 2004, the Corrib gas accumulation was identified as one of the three preferred supply options to be considered further. The other two options identified were the duplication of the existing Scotland-Ireland interconnector and the construction of a gas pipeline from Scotland through Northern Ireland.