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Mark Stedman/Photocall Ireland

Just four commercial gas discoveries since the 70s but minister remains positive

Junior miniser Fergus O’Dowd has said that the state should provide an environment that encourages companies to take the risks involved in exploration.

JUNIOR MINISTER FERGUS O’Dowd has said that it is important that the State provides the right environment to encourage private companies to invest in oil and gas exploration in Ireland.

There have been just four commercial natural gas discoveries since exploration began offshore Ireland in the early 1970s. The four discoveries were in Kinsale, Ballycotton and Sevenheads, producing gas fields off the coast of Cork and the Corrib gas field off the Mayo coast.

To date, there have been no commercial discoveries of oil but the government is remaining positive about our prospects.

In response to a parliamentary question, O’Dowd said that despite the low level of commercial discoveries to date, “working petroleum systems are known to exist in many of Ireland’s offshore basins, as demonstrated by a number of non-commercial discoveries as well as other oil and gas indicators such as hydrocarbon shows in wells”.

Corrib

Ireland currently imports approximately 95 per cent of its natural gas needs and 100 per cent of its oil requirements. According to O’Dowd, successful development of our indigenous resources would contribute to significantly reducing dependence on imported supply.

He said it is estimated that construction of the onshore section of the pipeline a the Corrib development will take in the region of three years and first gas cannot be anticipated before 2014.

“In its first four to five years of production, the Corrib Gas Field Development is expected to provide 60 per cent to 65 per cent of Ireland’s natural gas needs,” O’Dowd said.

The right environment for companies

The junior minister added that it is important that the State provides the right environment “to encourage private industry to take the risk associated with investing in exploration” in a number of ways including;

  • Offering attractive and innovative licensing opportunities, such as the 2011 Atlantic Margin licensing round;
  • Providing a fit-for-purpose, transparent and robust regulatory regime;
  • Deepening knowledge of our offshore petroleum potential, in particular through data acquisition and supporting key research projects;
  • Actively promoting the opportunity to invest in exploration in the Irish offshore, in particular to companies not currently active here.

Read: €20 million seismic survey hopes to reveal Ireland’s true oil and gas wealth>

Read: Rabbitte thinks fracking could be good for Ireland – but only if it’s safe enough>

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21 Comments
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    Mute Clodagh Carroll
    Favourite Clodagh Carroll
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    Oct 5th 2013, 11:15 AM

    Bye and thanks for the many laughs on here, Capt. Adebayo, you legend!!

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    Mute Lloyd Christmas
    Favourite Lloyd Christmas
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    Oct 5th 2013, 12:54 PM

    He must have gotten himself a girlfriend and she’s off barking orders

    20
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    Mute Gaius Gracchus
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    Oct 5th 2013, 11:22 AM

    Apparently Capt Adebayo Flynn has run into a bit of bother, some people aren’t happy with his decision http://www.youtube.com/watch?v=kO12Ba5PwMA

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    Mute Suzanne Ní Dhúil
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    Oct 5th 2013, 11:41 AM

    Hilarious!!

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    Mute Jodi Steel
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    Oct 5th 2013, 1:44 PM

    That’s brilliant!

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    Mute Dreana O'Gorman
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    Oct 5th 2013, 2:45 PM

    Love it! :)

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    Mute Patricia Mc Cann
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    Oct 5th 2013, 3:32 PM

    Ha ha. He will be missed.

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    Mute Deirdre Mac Mahon
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    Oct 5th 2013, 11:17 AM

    ADEBAAAAAAAAAYOOOOOOO
    *sniff*
    well the Capt finally got me to open that twitter account.
    long life and prosper, Capt

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    Mute Nelly
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    Oct 5th 2013, 11:24 AM

    The capt had the ladies wrapped around his finger

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    Mute Niall H
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    Oct 5th 2013, 11:47 AM

    He’s some character. Pity there arent more like him on here. Its all cranky b******s now :)

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    Mute Abi Dennis
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    Oct 5th 2013, 12:11 PM

    I’m far more upset about Adebayo leaving than i should be…its worse than when Robbie left Take That!

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    Mute Abbi Cranky
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    Oct 5th 2013, 11:32 AM

    Oh Captain, my captain?

    (Standing on chair, fist over heart, sigh)

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    Mute Donal O Neil
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    Oct 5th 2013, 2:19 PM

    Captain for president , let’s vote him in ….

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    Mute tmwtbc
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    Oct 5th 2013, 11:41 AM

    Didn’t know the Captain had quit. Very funny guy and genuinely insightful.

    Good luck, Captain!

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    Mute Tigerisinthezoo
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    Oct 5th 2013, 12:21 PM

    After all the love from the women Adebayo is likely to come back in a new twitter life as Commander Adebayo Flynn!

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    Mute Michelle Mc Loughney
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    Oct 5th 2013, 12:05 PM

    Say it ain’t so captain. Say it ain’t so:( sobs.

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    Mute TheHassetthoff
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    Oct 5th 2013, 12:15 PM

    So long Captain, your posts are always top quality and good craic! Call back soon!

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    Mute Little Jim
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    Oct 5th 2013, 12:24 PM

    He’s not calling back, ever.
    He’s just too strong.
    *denial, tears, anger, acceptance, pride*

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    Mute Padraig Stapleton
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    Oct 5th 2013, 12:53 PM

    Farewell Adebayo, you legend! A great aul character…

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    Mute Marguerite Hoiby
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    Oct 5th 2013, 1:28 PM

    Why has he left?

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    Mute Mike Clinton
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    Oct 5th 2013, 3:08 PM

    So long Capt and your legacy will remain.
    Lelsie, lets ratchet it up a gear.

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    Mute Dave!
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    Oct 5th 2013, 4:27 PM

    You did good captain, consider yourself promoted to commandant.

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    Mute Tommy Hornblower
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    Oct 5th 2013, 1:46 PM

    I guess it’s up to Leslie Alan Rock to shepard the flock now…

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    Mute Beep Beep
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    Oct 5th 2013, 1:54 PM

    Oh god not Lesley Alan Moron, nobody wants his input

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    Mute Mike Clinton
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    Oct 5th 2013, 3:10 PM

    I disagree with you.
    I find Leslie’s posts quite good (and God knows I have had a few run in’s and don’t always agree)

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    Mute Leslie Alan Rock
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    Oct 5th 2013, 11:29 PM

    Thank you michael. ..onwards and side wards I shall lead you

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    Mute Mike Clinton
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    Oct 5th 2013, 11:37 PM

    Let’s Rock Leslie ;-). Take no prisoners.

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    Mute Dwickedchicken
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    Oct 5th 2013, 10:50 PM

    Personally I thought “capt” was an ass hole. :)

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    Mute Shane Hickey
    Favourite Shane Hickey
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    Oct 11th 2013, 11:43 AM

    how do you quit an online forum? Surely it’s accessible from anywhere in the world (and on ISS)?

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