Tuesday, 19 June 2018
Department of Communications, Climate Action and Environment
Petroleum and Gas Exploration
457. To ask the Minister for Communications, Climate Action and Environment the revenue from fees and so on from the granting of licences, grants and undertakings for the exploration and extraction of petroleum since 2010, in tabular form. [26266/18]
In addition to revenue from Corporation Tax, and royalty payments where applicable, in respect of production from the four commercial gas fields (Kinsale Head, Ballycotton, Seven Heads and Corrib), the State derives revenue from petroleum exploration and production authorisation acreage rental fees, together with application fees. The aim of these fees is to help meet costs incurred by my Department in discharging its regulatory functions whilst encouraging effective and timely exploration. The details of these fees are set out in Appendix 1 to the Licensing Terms for Offshore Oil and Gas Exploration, Development and Production 2007, which is available on my Department’s websitewww.dccae.gov.ie.Annual revenue in respect of petroleum authorisation acreage rental fees and application fees since 2010 are set out in the following table.
|Year||Acreage Rental Fees||Application Fees|
Profits from the Kinsale, Ballycotton, Seven Heads and Corrib gas fields are subject to Corporation Tax at a rate of 25%. The operation of the taxation system and the receipt of taxation are matters for the Revenue Commissioners. As a consequence, I am not in a position to provide the Deputy with a figure for the Corporation Tax yield to the State in respect of the operation of the offshore gas fields.
Royalties from the Kinsale and Ballycotton gas fields are payable to the Exchequer at a rate of 12.5% of the fair market value of the gas at the well head. Royalties received from 2010 are set out in the following table: