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Petroleum and Gas Exploration

Dáil Éireann Debate, Tuesday - 19 June 2018

Tuesday, 19 June 2018

Ceisteanna (457)

Bríd Smith

Ceist:

457. Deputy Bríd Smith asked the Minister for Communications, Climate Action and Environment the revenue from fees and so on from the granting of licences, grants and undertakings for the exploration and extraction of petroleum since 2010, in tabular form. [26266/18]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Communications)

In addition to revenue from Corporation Tax, and royalty payments where applicable, in respect of production from the four commercial gas fields (Kinsale Head, Ballycotton, Seven Heads and Corrib), the State derives revenue from petroleum exploration and production authorisation acreage rental fees, together with application fees. The aim of these fees is to help meet costs incurred by my Department in discharging its regulatory functions whilst encouraging effective and timely exploration. The details of these fees are set out in Appendix 1 to the Licensing Terms for Offshore Oil and Gas Exploration, Development and Production 2007, which is available on my Department’s website www.dccae.gov.ie. Annual revenue in respect of petroleum authorisation acreage rental fees and application fees since 2010 are set out in the following table. 

Year

Acreage Rental Fees

Application Fees

2010

€1,407,812

€10,700

2011

€2,420,485

€97,284

2012

€2,476,499

€66,880

2013

€1,805,709

€1,890,902

2014

€2,568,065

€34,960

2015

€2,992,211

€121,042

2016

€1,942,775

€39,520

2017

€2,443,439

€159,624

Total

€18,056,995

€2,420,912

Profits from the Kinsale, Ballycotton, Seven Heads and Corrib gas fields are subject to Corporation Tax at a rate of 25%. The operation of the taxation system and the receipt of taxation are matters for the Revenue Commissioners. As a consequence, I am not in a position to provide the Deputy with a figure for the Corporation Tax yield to the State in respect of the operation of the offshore gas fields.

Royalties from the Kinsale and Ballycotton gas fields are payable to the Exchequer at a rate of 12.5% of the fair market value of the gas at the well head. Royalties received from 2010 are set out in the following table:

Year

Royalties

2010

€2,571,624

2011

€3,904,321

2012

€3,955,353

2013

€4,593,123

2014

€1,997,749

2015

€1,587,755

2016

€279,686

2017

€682,153

Total

€19,571,764

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