Derek McDowell
Question:66 Mr. McDowell asked the Minister for the Marine and Natural Resources his proposals for a review of the 1992 terms granted to oil and gas exploration companies; and if he will make a statement on the matter. [12795/01]
Vol. 535 No. 4
66 Mr. McDowell asked the Minister for the Marine and Natural Resources his proposals for a review of the 1992 terms granted to oil and gas exploration companies; and if he will make a statement on the matter. [12795/01]
115 Mr. Higgins (Dublin West) asked the Minister for the Marine and Natural Resources if he will expand on his recent remarks that he would review the 1992 exploration terms awarded to oil and gas companies if there is a successful outcome to the oil drilling programme in 2001. [12907/01]
I propose to take Question Nos. 66 and 115 together.
The current licensing terms were very carefully designed and introduced in 1992 to compensate for Ireland's disadvantage in terms of perceived prospectivity and operating conditions and to encourage interest in exploration and development. Only two exploration wells have been drilled in the Irish offshore in the last three years, despite the existence of the 1992 terms and there are 20 offshore exploration licences in place at present compared to a peak of 32 in 1997. Furthermore, a number of exploration companies granted licences under a licensing round in 1997 have indicated their intention to relinquish these licences this year.