Paul Murphy
Ceist:94. Deputy Paul Murphy asked the Minister for the Environment, Climate and Communications the reason he approved the extension of the Europa Oil and Gas exploration licence. [11040/24]
Amharc ar fhreagraThursday, 7 March 2024
Ceisteanna (94)
Freagraí scríofa
Under the Government’s policy on Petroleum Exploration and Production, published in August 2022, those holding existing authorisations can continue to apply to progress through the standard licensing lifecycle stages towards a natural conclusion, which may include expiry, relinquishment production or rejection.
On the 6 October 2023, Europa Oil and Gas (Inishkea) Limited submitted an application for a 2 year extension to the first Phase of the Frontier Exploration Licence (FEL4/19), which they operate, and proposed a work programme to be carried out during the extension period, which comprised further technical desktop studies. This application was assessed in accordance with the 2007 Licensing Terms for Offshore Oil and Gas Exploration, Development and Production and the Department’s Financial Capability Assessment for Offshore Oil & Gas Exploration and Appraisal Applications Guidance. This includes a technical assessment and an assessment of the financial resources available to the applicant in order to undertake the work programme and any other commitments pursuant to the relevant petroleum authorisation.
These assessments showed that the applicant met the required technical and financial criteria and the extension to Phase 1 was granted on 26 January 2024. It should be noted that that while the first Phase of the licence has been extended there is no change to the overall duration of the licence.