Robert Dowds
Ceist:303. Deputy Robert Dowds asked the Minister for Communications, Energy and Natural Resources the amount it costs on average for an oil-gas exploratory drill. [11689/14]
Amharc ar fhreagraTuesday, 11 March 2014
Ceisteanna (303)
Freagraí scríofa
The cost of drilling an offshore exploration well is determined by a number of factors including the market rate for drilling rigs, duration of the well programme, water depth and remoteness of location. Exploring offshore the west coast of Ireland is expensive relative to other petroleum producing areas due of its remoteness and deep water depths. For example, in the Atlantic Margin water depths are 7-8 times greater than that of the North Sea. This is reflected in the cost of drilling a single deep-water well in the Atlantic, which can be expected to cost in excess of €100m.