Dáil Éireann Debate, Tuesday - 8 February 2005
117 Mr. S. Ryan asked the Minister for Communications, Marine and Natural Resources the main implications of the new exploration licensing round off the west coast of Ireland; the extent of interest in the licensing round to date; the type of developments he envisages may result from the round; and if he will make a statement on the matter. [3598/05]
View answerIn January, I announced some details of a new licensing round in the Slyne, Erris and Donegal basins off the west and north-west coast. I will announce further details at the end of next month. This is the second phase of a policy to open areas with exploration potential — the first phase is the licensing round in the north-east Rockall basin, which closes on 31 May 2005.
The acreage on offer in the Slyne, Erris and Donegal basins will cover an area of approximately 25,000 sq. km. The hydrocarbon potential of the area has been illustrated by the Corrib gas field, which is undergoing development. This constitutes a new opportunity for exploration in an area that remains under-explored. The infrastructure of the Corrib field could significantly reduce the development cost of any further commercial discoveries in the area.
It is too early at this stage to gauge the level of interest in the licensing round. The closing date of the licensing round is 15 March 2006 and the area will remain closed until then. The level of interest in the licensing round will become more apparent as we approach that date.
