Richard Bruton (Dublin North Central, Fine Gael)
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Question 166: To ask the Minister for Communications, Marine and Natural Resources if he has examined the Price Waterhouse Report and analysis of petroleum exploration terms in Ireland, UK, Norway, Denmark and the Netherlands; if he will incorporate parts of the report in future exploration and licensing policy; and if he will make a statement on the matter. [38748/06]

Noel Dempsey (Meath, Fianna Fail)
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I am aware of a report "An Economic Analysis of Petroleum Exploitation Terms in Ireland, the U.K., Norway, Denmark, and the Netherlands" that was published by Price Waterhouse in 1988. One of the authors of that report is leading the team that has been engaged by my Department to assist with the review of the licensing terms for petroleum exploration and production. The work already undertaken by my Department and its advisers in reviewing the existing licensing regime, together with the work currently being undertaken by Indecon, has included peer analysis that included the oil provinces mentioned by the Deputy.