The Minister for Marine and Natural Resources Noel Dempsey has confirmed he will holding a new licensing round for exploration firms to drill for gas in the Porcupine Basin.
The Minister has offered drilling licences for an area covering 63,500 square kilometres of the sea bed off Ireland's south west coast.
Mr Dempsey warned that we are relying too heavily on imported gas and we need an indigenous supply.
'At present we import more than 85% of our gas requirements', he said.
'This is in stark contrast to the position ten years ago, when about 95% of our gas requirement came from indigenous supplies through the Kinsale Field.
Only 5 exploration wells have been drilled in the Porcupine area in the last 20 years and though the area may have considerable potential, to this day it remains under-explored,' commented Minister Dempsey.
Applications may be made for a maximum of three blocks in the north of the Porcupine Basin and for a maximum of six blocks in the south of the Basin.
It is expected that applications will be invited in May 2007 with a closing date for applications of end October.
Applications may be made for a maximum of three blocks in the north of the Porcupine Basin and for a maximum of six blocks in the south of the Basin.
