Vol. 510 No. 6
119 Mr. Kenny asked the Minister for the Marine and Natural Resources the number of meetings he has had with a company (details supplied) in relation to the development of the Corrib field in the Atlantic margin; the nature of these discussions; the conclusions reached to date; and if he will make a statement on the matter. [23686/99]
I and my officials meet on a regular basis with the company in question regarding the possible development of the Corrib field. The most recent discussions, earlier this month, focused on the company's plan for future work on the field and issues relating to a plan of development should the company decide to submit such a plan.
The company is not yet in a position to decide on whether the field is commercial and has stated that further work needs to be done to enable a conclusion to be reached. In that context the company is considering drilling another appraisal well next year after which I expect that it would be in a position to make a decision on whether the gas can be produced commercially. Should it conclude that the field is commercial the company will be obliged under the licensing terms for Offshore Oil and Gas Exploration and Development, 1992, to so notify me and apply forthwith for a petroleum lease with a view to its development.
