John Browne Announces New Licensing Round in North East Rockall Basin

The 2005 NE Rockall Basin Frontier Licensing Round closed on 31st May 2005.

John Browne T.D., Minister of State for Communications, Marine and Natural Resources, today outlined details of the new Petroleum Licensing Round in the North East Rockall Basin as the first phase of a policy to open areas with exploration potential.

The acreage on offer covers 65 full blocks and 12 part-blocks in the Irish Offshore - an area of just under 15, 800 square kilometres. The region is classified as Frontier because of the deep water and challenging environment. Successful applicants will be offered Frontier Exploration Licences which have a duration of 16 years.

Applications for Frontier Exploration Licences involving the blocks in the Round, must be lodged with the Department of Communications, Marine and Natural Resources by 31 March 2005. Until that date, the Minister will not issue any Exploration Licence nor grant any Licensing Option in respect of any of the blocks in this Round.

The Minister said: This Round will address the need to explore potential in a manner which addresses the need for forward planning by the industry. This is essential if Ireland is to succeed in encouraging the industry to explore the Irish offshore, with the ultimate objective of providing to the greatest extent possible Irelands energy requirements from indigenous sources.

The hydrocarbon potential of this area has been illustrated by the Dooish discovery which encountered a significant column of hydrocarbons. This licensing round is an opportunity to explore further that potential. Much of Irelands Atlantic Margin is under-explored and my concern is that every area of potential should be actively explored.

The Minister confirmed that authorisation holders awarded licences in the Rockall Round would participate in the joint PAD/Industry Petroleum Infrastructure Programme (PIP) through the Petroleum E & P Promotion and Support (PEPPS) sub-programme. Once again, he emphasised the importance of PIP in underpinning and promoting exploration as well as in assisting with local infrastructure development.

The Licensing Terms for Offshore Oil and Gas Exploration and Development, 1992 will apply to licences granted under the Round and they will be supplemented by the specific terms appended to this statement.

Ends

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