Results 2,721-2,740 of 11,242 for speaker:Noel Dempsey

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: On that basis, the Government is fully committed to realising the full potential of oil and gas resources in offshore Ireland.

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: Deputy Cowley crying about the fact that the Corrib developers will get more money because this project has been delayed is a bit rich when one considers the role he played in it over the past two or three years.

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: The second choice that faces us is to prospect for, extract and process these resources ourselves, as advocated in the motion and as some people on the Opposition benches would have us do. That would be a huge, costly and very risky exercise. The risks for the State, financial and otherwise, of such a course of action would be immense.

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: We have seen that Ireland has proven in the past to be a very difficult territory in which to prospect successfully. That is because of geology and geography, with less than one in 20 exploratory wells resulting in commercial finds. It must be remembered that these highly expensive wells are only drilled after extensive and expensive geotechnical surveys. Even if such a State company were to...

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: I can think of many more productive uses for public money than speculating in this way. It is for this reason that option two is not an option as far as I or the Government is concerned. The third option I mentioned has been the foundation of Government policy in this State for decades and has been supported and embraced by all Governments for many years. We have encouraged competent private...

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: In the scenario favoured by the Opposition, a find in one field would be negated by 19 inevitable failures.

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: The Opposition would have us start from square one, with no experience, no equipment and no structures in place in one of the most challenging marine environments on the planet.

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: I have a piece of advice to the Deputies opposite — stay out of the casinos and away from the ponies. I do not think they would make too much money on them. The private sector is recognised as having the resources, expertise and practical experience essential for such a task. These companies have decades of experience of this type of hazardous and financially risky operation, while this...

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: This fact has been accepted by every Government that has taken power since 1992. The situation facing those prospecting for oil and gas off the Irish coast bears repetition. Out of a total of 121 exploration wells drilled in Irish waters since the 1960s, there have been only four commercial finds.

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: Up to 1987, when the present terms were introduced, Ireland had made one commercial find. Over the same period, Norway had made 60 commercial finds and, on average, each was significantly larger than Kinsale. A comparison of success rates for exploration drilling carried out for my Department in 2003 showed that the UK and Norway had 1 in 8 and 1 in 10 success rates respectively between 1982...

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: ——no one in the Department or oil companies seems to have. If we were as generous as the ideologues and Deputies claim, we would have a greater response and more interest, that is, unless one believes in the conspiracy circulated by Sinn Féin. It believes that there are considerable quantities of oil and gas off our shores, the Government and companies know about them and we are intent...

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: The fiscal regime in place must be sufficiently progressive to accommodate future variations in oil and gas prices and the high cost of deep water field development. In this context, I have recently put a review of the current scheme in motion and my Department will shortly seek tenders to have an expert review of proposed changes to the Irish exploration and production fiscal regime.

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: However, these licensing terms were not always the same. Until 1987, the terms did not exempt gas and oil developments from royalty payments. The Kinsale gas field paid, and still pays, royalties. While that field is now in its depletion stage, royalty payments received to date amount to approximately €150 million.

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: However, by 1987, prospecting had almost completely dried up in Irish waters because the terms were regarded as unfavourable compared to those in operation in other jurisdictions. The decision was taken to change them. The changes tracked changes made in other north-western European countries. Royalty payment schemes ceased to apply in the United Kingdom, Norway, the Netherlands and Denmark,...

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: In particular, Deputy Healy did not seem to know the position.

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: There seems to be some confusion about what is involved when an operator obtains a frontier licence. It is impossible for an oil company to hold a licence without undertaking any exploration. The licences are premised on the completion of an ongoing work programme, which must be agreed by my Department in advance. The Department monitors the progress of the licences and insists on regular...

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: My Department advertised the process in the Irish Independent on 11 April and local papers in counties Donegal, Sligo, Mayo and Galway later that week.

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: It held regional consultative meetings in Sligo on 20 April and Galway on 21 April. Three meetings were held in Dublin on 18 and 19 April for the industry sector, non-governmental organisations and the State to present the draft report to explain its methodology and conclusions and to hear concerns.

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: The report was made available on the Internet and in county libraries and a four-week period for the receipt of responses to the report was allowed.

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: I take this opportunity to emphasise to the House that our regime for the governance of oil and gas exploration and production is the best fit for our particular circumstances.