Eamonn Maloney (Dublin South West, Labour)
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512. To ask the Minister for Communications, Energy and Natural Resources when he proposes to appoint consultants to carry out a review of the fitness for purpose of Ireland's fiscal terms for oil and gas exploration as indicated recently in Dáil Éireann; the procedure for appointing these consultants; the terms of reference for the review; when this review will be completed and laid before the Houses of the Oireachtas; if the review will consider retrospectively amending any licensing agreements; and if he will make a statement on the matter. [26872/13]

Fergus O'Dowd (Louth, Fine Gael)
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At the commencement of the Dáil debate on the Report of the former Joint Oireachtas Committee for Communications, Natural Resources and Agriculture on Offshore Oil and Gas Exploration I outlined my intention to seek independent expert advice on the "fitness-for-purpose" of Ireland's current oil and gas exploration fiscal terms. I also stated that I proposed to listen to the views of Deputies through the course of the debate before commencing the process of seeking such expert advice. That debate has yet to conclude.

The procedure for the appointment of the necessary expert advice must necessarily adhere to public procurement requirements. Certainty as to fiscal terms is a prerequisite to attracting oil and gas exploration investment to Ireland, with a view to establishing the true oil and gas potential of the Irish offshore. In that regard, and particularly in the context of planning for the next licensing round, it would be my intention to bring my consideration of this matter to a conclusion before the end of this year. That would ensure that the next licensing round could be launched against a backdrop of regulatory certainty and encourage much needed new investment in exploration in our offshore.