James Lawless (Kildare North, Fianna Fail) | Oireachtas source

I agree with the point made by Deputy Ryan. I saw it happen in other areas during the interregnum and I welcome us revisiting that. Subhead D3 deals with petroleum services. A sum of €441,000 has been allocated but it is a significant decrease from the previous year's allocation of €4.6 million. That means the budget has been cut to 10% of the previous year. At the same time, it appears that the projected number of licences under active regulation has increased from 60 to 75. We have set a target of 75 licences, which is greater than 60 licences, while at the same time, we have massively decreased the funding allocated to this area from €4.6 million to €441,000. Why has the allocation been decreased?

My second question is related. The current budget is €441,000 for petroleum services and active regulation. What percentage, if any, is geared towards encouraging, engaging with or inviting companies to apply for further licences or leases for gas and oil exploration?

My next query ties in a little bit with a question asked by Deputy Ryan. The Minister has said that the State will benefit from these projects and at least one licence has been signed. What benefits does the State reap from these projects? This matter has been the subject of controversy in the past. What happens with royalties? What are the taxation arrangements? Is there a payback or return for the State? Can the State directly access the resources at a preferential rate? Can the Minister outline the arrangements that are in place? Is it intended to revisit the arrangements for future contracts? Where does this matter sit at the moment?