Dáil Éireann Debate, Tuesday - 25 May 2021
80. Deputy Darren O'Rourke asked the Minister for the Environment, Climate and Communications if a licence for the exploration of oil and gas will be sold from its holder to another entity; the impact on a licence for the exploration of oil and gas when the company which holds the licence is sold; and if he will make a statement on the matter. [28179/21]
Amharc ar fhreagraChanges to the composition of the holders of petroleum authorisations, such as assignments or transfers of interest, are not uncommon occurrences. In accordance with Section 9A of the Petroleum and Other Minerals Act 1960, as amended, and Article 41 of the Licensing Terms for Offshore Oil and Gas Exploration, Development and Production 2007, which is available on my Department’s website www.gov.ie/en/publication/f5dcf3-licensing-terms/, any such changes require Ministerial approval and are based on an assessment of the prospective authorisations holder’s financial and technical capability to undertake the work programme and any other commitments pursuant to the relevant petroleum authorisation. The process that my Department applies in assessing the financial capability of prospective authorisation holders is set out in the Financial Capability Assessment for Offshore Oil and Gas Exploration and Appraisal Applications Guidance Document, published on Gov.ie (www.gov.ie/en/publication/fe55a-financial-capability-assessments-of-offshore-oil-gas-exploration-and-appraisal-applications/). This guidance applies to any assignments or transfer of interests or any significant changes to the shareholding or control of the authorisation holder.
