asked the Minister for Energy whether it is Government policy that royalties and State participation will no longer be sought in any discoveries of hydrocarbons or of minerals; and if he will make a statement on the matter.
Written Answers. - State Participation in Hydrocarbon Mineral Discoveries.
19.
There has been no change in Government policy in relation to the terms for development of oil and gas discoveries in the Irish offshore since the statement in September 1987 by my predecessor when he announced a revision of the 1975 licensing terms. The 1987 revision provided for abolition of State participation in profits from oil or gas developments as required by section 29 of the original 1975 licensing terms, and exemption from royalty payments as provided for under section 23 of those terms.
Marathon's leases have never been subject to the 1975 licensing terms, and so were unaffected by the 1987 changes in these terms. Therefore payment of royalties in respect of production of oil and gas from discoveries in the marathon leased acreage continues to apply.
With regard to hard minerals, the terms of future state mining leases, including royalty and State participation, will continue to be settled by reference to the particular features of the deposits concerned and other relevant factors.