Vol. 493 No. 4
64 Mr. Callely asked the Minister for the Marine and Natural Resources the early indications, if any, of oil and gas exploration and other developments in offshore activities; and if he will make a statement on the matter. [16356/98]
It is impossible to be precise in regard to the potential for a new commercial development in our offshore as it would depend on specific aspects of the field such as the amount of oil or gas recoverable, the duration of production, the distance to land, water depth at the location, costs and market price of the product.
The Deputy may be aware that I recently approved the issue of a petroleum lease to Providence Resources over the Helvick oilfield in block 49/9 in the north Celtic Sea. While this is a marginal field, a potential for commercial development has been established and it merited the granting of a petroleum lease. Providence Resources now has two years to submit a field plan of development for my approval.
In l996 Enterprise Oil discovered gas in a well drilled in the Slyne Trough but despite its best efforts it was unable to test this discovery because of mechanical problems. It is now about to start an appraisal well on this prospect and expects to remain on location for about two and a half months.
Since exploration offshore began in l970 there have been many instances of oil and gas being produced from exploration wells on test but none of these has proved to be commercial.
