Billy Timmins
Ceist:41 Mr. Timmins asked the Minister for the Marine and Natural Resources the proposals, if any, he has had from an oil company for the extraction of oil from the Helvick field off the County Waterford coast. [12296/99]
Written Answers. - Offshore Exploration.
The Helvick oil field, discovered in 1983, is situated in the south-west corner of Block 49/9 in the North Celtic Sea Basin about 36 km from the Waterford coast. Published figures indicate that it contains an estimated seven million barrels of recoverable oil together with associated gas.
Providence Resources plc. hold a petroleum lease over the field which I granted to them for a ten year period from 1 May 1998. Under the terms of the lease, the company is required to submit a detailed plan of development for the field for my approval by 1 May 2000.