Results 8,501-8,520 of 11,242 for speaker:Noel Dempsey

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.

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: Current high energy prices present us with a series of challenges and opportunities. The challenges are obvious but the opportunities may be less so. We have an opportunity to foster a new environment for oil and gas exploration in our waters. Through careful use of the policy instruments available to us, we can take advantage of increased interest in areas such as Ireland because of high...

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: ——looking at all aspects of the design and manufacturing procedure. In addition, with the aid of my Department's technical advisory group, it conducted two separate phases of public consultation with the community in the area. The first was to elicit general queries on the subject and the second was to present a draft report and to hear responses. As Deputies are aware, I received its...

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: The reports have been published and are publicly available. They have been delivered in County Mayo and it remains for those involved in the mediation process to work together to resolve any further difficulties they might have. It is crucial that this project succeeds and that all sides engage constructively in the mediation process.

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: I move amendment No. 1: To delete all words after "Dáil Éireann" and substitute the following: "—recognises: —that the development of lreland's natural resources benefits the citizen of the State: —that the present fiscal terms for petroleum are based on the present perception of prospectivity in offshore Ireland and recognise that we compete with other jurisdictions for exploration...

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: ——in the real world. It is especially difficult to find and exploit in the waters off the west coast of Ireland. Historically, exploration companies come here with a 20-1 chance of even finding oil or gas, and that is at a huge cost. Even to drill one exploration well can cost in excess of €20 million.

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: Thank you, a Cheann Comhairle. Even to drill one exploration well can cost in excess of €20 million in the area we are talking about. What the Deputies are proposing is that the Irish taxpayer foots this bill on a 20-1 chance. My anxiety increases when we examine other aspects of what the Deputies are saying in the motion. They appear to be unable to grasp the timing in this issue. Oil...

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: I am prepared to accept that the Deputies opposite were caught on the hop with the bank holiday weekend. How else could one explain that in the initial draft of the motion——

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: ——the proposers did not know that the corporation tax on exploration was 25%, not 12.5% as they originally put in their motion? How else can we explain the fact that they do not know royalties are still being paid for the Kinsale gas field or the statement in their motion that we "allow oil companies to sit for up to 20 years on exploration and still do no exploration"? That statement is...

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: Based on that level of ignorance the motion asks us, at a time of growing concern over the availability and price of hydrocarbons, to freeze the issuing of any further exploration licences and the establishment of procedures and bodies that would ensure no indigenous supplies of gas or oil would come to this country virtually ad infinitum. This group of intrepid parliamentarians appear to...

Energy Resources: Motion. (3 May 2006)

Noel Dempsey: This State has a relatively clear set of choices when it comes to the exploitation of oil and gas resources. The Deputy should bring himself up to date and get his facts right. What he said tonight was wrong.