Written answers

Tuesday, 11 December 2012

Department of Communications, Energy and Natural Resources

Oil and Gas Exploration

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Communications, Energy and Natural Resources further to Parliamentary Question No. 285 of 23 October 2012, if he will provide in tabular form by year, the receipts and expenditure in respect of a company (details supplied) for each of the years 2000 to 2012. [55393/12]

Photo of Pat RabbittePat Rabbitte (Dublin South West, Labour)
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As set out by the Minister for Public Service and Reform in his replies to Parliamentary Questions numbers 285 of 23 October 2012, 79 of 26 September 2012 and 493 of 18 September 2012, the terms applicable to the Kinsale gas field are governed by a 1959 Oil Exploration and Development Agreement which sets out the regime of royalties, tax and rentals that apply. I should point out that the 1959 Agreement now relates to the Kinsale lease area only and that the fiscal terms applying to oil and gas exploration and production have been amended on a number of occasions since, most recently in the 2008 Finance Act which introduced a new profit resource rent tax of up to 15% in addition to the 25% corporate tax rate previously applying.

The royalties and expenditures in respect of Marathon Petroleum/PSE Kinsale are set out in the table below, please note that the figures for year 2000 are in punts. I should also point out that the amount paid in tax from the Kinsale gas field is a matter between the company and the Revenue Commissioners and is not included in the table.

Year
Royalties received
(000)
Remittances Paid
(000)
2000
£6,950
£5,239
2001
€8,180


€16,198
2002
€7,306



€13,752
2003
€5,071



€8,496
2004
€4,900
€6,244
2005
€5,080



€1,748
2006
€12,231


€5,836
2007
€4,931



€0
2008
€9,611
€11,677
2009
€2,114



€4,743
2010
€2,572



€6,333
2011
€3,904


€2,868
2012
€3,955
€2,603

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