Bernard Durkan (Kildare North, Fine Gael)
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282. To ask the Minister for Communications, Energy and Natural Resources the degree to which ongoing oil, gas and other mineral exploration continues; the number of licences issued and activated in each of the past six years to date; the number of positive or commercially viable discoveries; and if he will make a statement on the matter. [20362/14]

Fergus O'Dowd (Louth, Fine Gael)
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Details of all Prospecting Licences can be found in the six-monthly report to the Oireachtas, which I am obliged to lay before the Houses under the Minerals Development Acts, 1940 to 1999. The last such report was in respect of the six-month period ending 31 December 2013. This report is available on my Department’s website at . The number of Mineral Prospecting Licences granted in each year between 2008 and 2014 are set out in the table.

Prospecting Licences Granted during period 2008 – 2014

With regard to non-Petroleum minerals, there are 643 mineral Prospecting Licences currently held by 48 companies. Once issued, all licences are active.

While no new commercially viable deposits of minerals have been discovered in the past ten years, there have been some encouraging results, particularly in Counties Limerick and Clare. However, it is too early to determine whether these results will lead to identification of commercially viable deposits.

Details of all Authorisations granted under the Petroleum and Other Minerals Development Act, 1960 can be found in the six-monthly report to the Oireachtas. The last such report was in respect of the six-month period ending 31 December 2013. This report is available on my Department’s website at . The table sets outs the Authorisations granted in the years 2008 to the end of April 2014.

Petroleum Exploration Licences Granted during period 2008 – 2014

There have been no commercial discoveries of oil or gas within the territory of the State in the last five years. With new company entrants in 2013 it is evident that that there is significant and growing capacity in the sector demonstrating that exploration in the Irish offshore is moving in the right direction.

Bernard Durkan (Kildare North, Fine Gael)
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283. To ask the Minister for Communications, Energy and Natural Resources the extent to which he remains satisfied regarding the adequacy of the relevant legislation in respect of oil, gas and other mineral exploration to give an adequate return to the Exchequer while, at the same time, creating sufficient incentive for exploration to continue; and if he will make a statement on the matter. [20363/14]

Fergus O'Dowd (Louth, Fine Gael)
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The report published by the former Joint Oireachtas Committee on Communications, Natural Resources and Agriculture in May 2012 contained a number of recommendations in respect of the fiscal and regulatory framework applying to oil and gas exploration in Ireland. In subsequent Dáil debates I stated my intention to seek further independent expert advice on the “fitness-for-purpose” of Ireland’s fiscal terms, such expert advice to focus on what level of fiscal gain is achievable for the State and its citizens and, equally important, on the mechanisms best suited to produce such a gain.

In March of this year my Department appointed Wood MacKenzie to provide expert advice on the fitness for purpose of Ireland's fiscal terms for oil and gas exploration, development and production. It is expected that Wood MacKenzie will shortly complete their assignment and their report will help inform future decisions.

Minerals exploration is regulated through a system of prospecting licences and exploration data is made available free of charge to incentivise exploration activity. The evidence presented by the number of active mineral prospecting licences indicates that the minerals development legislation is adequate in regard to the incentivisation of interest in minerals exploration activity. In the event of a commercially viable discovery being brought into production, companies are entitled to have the allowable exploration expenditure set-off against their tax liability. It has also been possible to agree a satisfactory return to the exchequer from on-going mining activities within the existing statutory framework. I do propose, however, to publish a new minerals development bill this year that will consolidate, modernise and further streamline the exploration and mining regulatory process.