asked the Minister for Energy if any reserves of oil or gas are likely to be developed in the near future; and if he will make a statement on the matter.
Written Answers. - Reserves of Oil and Gas.
31.
No oil or gas accumulations have been found in our offshore which will be developed in the next 12 months, which I assume covers the Deputy's phrase, the near future. However, should studies or tests on earlier discoveries indicate the possibility of proceeding to a development, then I would be anxious that the companies concerned would proceed to that development as quickly as possible. If there are any useful steps which I can take to hasten such a process, then I will, of course, take those steps.
It is, of course, my ultimate objective to ensure that commercial deposits should be discovered, developed and brought into production with all possible speed. The primary means of achieving this objective is the active exploration of our offshore and the new terms which I announced in September 1987 were introduced with the encouragement of such exploration in mind.