Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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30. To ask the Minister for Communications, Energy and Natural Resources in view of the recent review of gas and oil licensing terms, his views that conditions regarding local employment, the benefit to the local economy and security of supply are adequately catered for; if not his plans to ensure they will be catered for; and if he will make a statement on the matter. [31647/14]

Joe McHugh (Donegal North East, Fine Gael)
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Successful exploration for oil and gas would result in significant benefits for Ireland in a number of ways. In addition to the income that would accrue to the Exchequer through the oil and gas fiscal terms and the security of supply benefits that would result from an increased indigenous supply, there would also be considerable economic benefits generated by the associated development and production activity. While Ireland has only enjoyed limited experience of successful exploration to date, the potential wider economic impacts have been clearly evidenced. For example, the Kinsale field was the trigger for the development of Ireland's natural gas industry, which has had a very considerable economic impact. In more recent years the Corrib gas field development has had a very positive economic impact and has given rise to significant employment opportunities, including much local employment. Recently, the Corrib partners reported that more than 900 people from Erris and Mayo have been employed on the project, over 300 Irish contracting companies have been engaged and over €1 billion has been spent with Irish companies.

While the benefits to the economy that result from successful exploration are obvious, the challenge is to create the conditions that will encourage an increase in exploration investment and exploration activity in the Irish offshore, so that more commercial discoveries are made.