Dáil Éireann Debate, Thursday - 31 January 2013
36. Deputy Brendan Griffin asked the Minister for Communications, Energy and Natural Resources if he has considered establishing a State agency dedicated to developing the oil industry; and if he will make a statement on the matter. [4605/13]
View answerIreland operates a model where the State provides the opportunity and private industry bears the risk associated with investing in exploration activity. In addition to offering regular and attractive licensing initiatives and actively promoting the opportunity to invest in exploration in the Irish offshore, my Department works with a range of other State bodies to support the conduct of effective exploration for our natural resources of oil and gas. I am of the view that it would be more effective to seek to build on this cooperation rather than to establish a new State body resulting in significant additional public spending and potentially duplicating existing functions.
