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Exploration Licences Approvals

Dáil Éireann Debate, Tuesday - 6 November 2012

Tuesday, 6 November 2012

Questions (638, 640)

Michelle Mulherin

Question:

638. Deputy Michelle Mulherin asked the Minister for Communications, Energy and Natural Resources when the offshore/onshore licences, in the Shell Corrib development, finally expire; and if he will make a statement on the matter. [48074/12]

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Michelle Mulherin

Question:

640. Deputy Michelle Mulherin asked the Minister for Communications, Energy and Natural Resources the exploration or appraisal efforts that have been conducted in the geographical area known as the Corrib Gas field being developed by Shell; the proposals for further exploration in this area; if there are further finds or enhancements of oil or gas assets, will the Irish State find itself in the same revenue sharing position; and if he will make a statement on the matter. [48076/12]

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Written answers

I propose to take Questions Nos. 638 and 640 together.

The Corrib Gas Partners are in receipt of a Petroleum Lease issued on 15 November 2001 pursuant to section 13 of the Petroleum and other Minerals Development Act, 1960, as amended. The duration of the Lease is 25 years but this can be extended with the agreement of the Minister for Communications, Energy and Natural Resources subject to terms and conditions, for example in circumstances such as where this were required in order to maximise production of the gas reserves.

The most recent appraisal activity carried out in the geographical area of the Corrib Gas Field is an Ocean Bottom Cable Seismic Survey to further refine the understanding of the Corrib Gas reservoir.

Profits from production of gas under the Corrib Petroleum Lease will be subject to corporate tax at a rate of 25%.

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