There is major potential for the development of natural resources in Ireland. My role is to establish a workable development and regulatory framework within which that potential can be realised and which has the confidence of the public.
Turning to specifics, I would note in regard to hydrocarbons that we have established potential for discoveries both offshore and onshore. In the offshore we have a vast Continental Shelf and 13 major basins and troughs have been identified. Much of the shelf remains underexplored but from 1971 to date 129 exploration wells have been drilled and since 1965 a total of 348 separate surveys have been carried out from which approximately 316,000 line kilometres of seismic data which has been acquired. Ten surveys have been carried out in onshore basins but none has been carried out since 1985.