The Rockall Trough includes some 200,000 square kilometers of the Continental shelf area west of Ireland extending about 100 to 650 kilometres from the cost. In May, 1995 I enclosed the area for applications for licensing options and exploration licences and on 15 March this year I announced a licensing round over the trough. The south-west portion of the trough, which is very far from shore, in deep water and is unlikely to be of interest to the industry at this time, was not included in the round and remains closed for licensing. The round covers an area of almost 150,000 square kilometres and has been designated a frontier area. The closing date for the round is 26 March 1997.
It is necessary to acquire seismic and other data over the entire area to properly assess its hydrocarbon potential. Closure of the area and the announcement of the round provided that opportunity and indeed has already generated substantial activity over the area.
A technical evaluation of the Rockall Trough is currently being prepared by the petroleum affairs division of my Department in conjunction with Robertson Research International Limited. This work, due to be completed in early June 1996, will be based on all geophysical and geological data currently available from the area and will be the first comprehensive assessment of its petroleum potential. It will be sold to petroleum exploration companies and will provide them with good basis for initial decisions on whether to consider the area in more detail.