asked the Minister for Energy the likelihood of a commercial oil find off the south-east coast of Ireland; and if he will make a statement on the matter.
Written Answers. - Commercial Oil Find.
38.
As I indicated to the House recently in response to a similar question, it is impossible to predict accurately the likelihood of a commercial oil find offshore Ireland until exploration wells which confirm the existence of significant hydrocarbon accumulations have been drilled. Such accumulations must then, in turn, be appraised and delineated to determine whether they are capable of sustaining commercial production. If so, the companies involved will proceed to development of the find.
There have been a number of encouraging oil discoveries off the south-east coast, particularly the discoveries in blocks 49/9 and 50/6 but it is not yet possible to say if these discoveries will, ultimately, lead to a commercial development. While the most recent exploration well in block 49/9, the results of which were announced on 2 June by the operator, flowed oil, unfortunately the well did not fulfil the companies' expectations for it. Data from this well is now being integrated into existing data-banks to assess further the potential of block 49/9. As regards block 50/6 a second exploration well in this block was spudded in the past few days and we await the outcome of that drilling. In the meantime, I can assure the Deputy that if oil in commercial quantities is discovered off the south-east coast of Ireland, or in any other sector of our offshore, its development will proceed as quickly as is humanly possible.