Dáil Éireann Debate, Wednesday - 3 December 2008
225 Deputy Martin Ferris asked the Minister for Communications, Energy and Natural Resources the figures on the level of direct investment in the Celtic Sea in appraisal and exploration drilling over the past ten years by Irish domiciled companies versus multinational companies. [44100/08]
Amharc ar fhreagra226 Deputy Martin Ferris asked the Minister for Communications, Energy and Natural Resources if he will be requesting that any potential new owner of assets (details supplied) in the Celtic Sea will re-invest a proportion of its revenues in exploration, appraisal and development activity in the Celtic Sea to secure additional gas supplies. [44101/08]
Amharc ar fhreagra227 Deputy Martin Ferris asked the Minister for Communications, Energy and Natural Resources if he will confirm that any potential new owner of assets (details supplied) in the Celtic Sea will continue to operate the assets in a manner which secures the vital strategic role of the Kinsale facilities in providing existing security of supply. [44103/08]
Amharc ar fhreagraI propose to take Questions Nos. 225 to 227, inclusive, together.
The Department agrees the detail of exploration programmes to be undertaken by the holders of exploration licences and then monitors delivery of those work programmes. Licensees are required to submit detailed reports of the exploration activity undertaken. This enables the Department to ensure that exploration commitments are delivered on and also contributes to the Department's understanding of the hydrocarbon prospectivity of both the area being explored and the wider region. While the Department would have a good understanding of the costs involved, details of actual monies spent are not provided to the Department.
The "acreage reports" published on the Department's website will show that in many cases the current exploration licences in the Celtic Sea are held by partnerships involving both Irish and multinational companies.
Turning to the assets sale referred to by the Deputy, I can confirm that the sale of these assets would require the transfer of guarantees and obligations under the leases concerned from the current owners to the new owners. It will be a matter for the new owners to decide whether or not they wish to invest in new exploration or development projects.
