The State’s success rate in generating more oil and gas exploration activity in Irish waters will be outlined by Minister for Energy Pat Rabbitte today at a conference in Dublin.
The Irish Offshore Operators’ Association says it is optimistic about the new licensing round initiated by the previous government for the entire Atlantic margin. Mr Rabbitte is due to outline the response from exploration interests at an Energy Ireland conference this morning.
The new £2 billion (€2.3 billion) windfall tax on oil and gas production introduced by British chancellor George Osborne may “benefit Ireland”, association chairman Fergus Cahill said. He said there had been a backlash among energy firms over Britain’s move, aimed at cutting motorists’ fuel duties.
