By OGJ editors
HOUSTON, Jan. 8 -- Ireland will hold a new licensing round, offering exploration acreage in the Porcupine basin on unlicensed blocks in a 63,500 sq km area, said Noel Dempsey, minister for communications, marine, and natural resources.
The acreage is classified as "frontier" because of the challenging environment of Ireland's Atlantic margin, Dempsey said. "Only five 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 underexplored," he said.
In 2006 Dempsey commissioned a review of the country's existing licensing terms, and a final report from the consultants is expected shortly. Any adjustment of terms will apply to the Porcupine round. Applications will be formally invited for the round after decisions have been made on the future of the current licensing regime, Dempsey said.
It is expected that the invitation for applications for the licenses in the round will start in May 2007 with a closing date for applications of Oct. 31. Applicants will be able to bid 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.
A comprehensive strategic environmental assessment (SEA) of the region will be conducted before the Porcupine basin licenses are awarded. An external team of environmental experts will conduct the SEA, and public consultation will form an integral part of the assessment.
Dempsey said, "Ireland needs an indigenous gas supply. At present [the country] imports more than 85% of [its] gas requirements. This is in stark contrast to the position 10 years ago, when about 95% of our gas requirement came from indigenous supplies through the Kinsale field."
