Statement by the Irish Offshore Operators’ Association

The expected publication of a Government Exploration Policy Paper today (17th December 2019) is an important moment which could impact on Irish energy security, supply and transition for decades to come, according to the Irish Offshore Operators’ Association (IOOA).

The representative body for companies licensed to explore for and produce oil and gas off the Irish coast says it is hopeful that Ministers will use the opportunity to bring clarity and confidence to the sector.

Mandy Johnston, CEO of the IOOA, added:

“The content of the policy paper will be carefully studied by companies and investors who want to see if the Government is serious about seeking to repeat the success of the Kinsale Head and Corrib gas fields which have formed the backbone of Irish energy supply for over four decades.

It is important that Government produce a paper of substance with commitments to ensure Ireland has a policy and regulatory regime which is fit for purpose and fully transparent, one which compares favourably to international best practice.

There is no doubting that the lack of clarity in terms of regulation coupled with confusing political messages have undermined operational and investor confidence in our sector.

In order to restore that confidence, the Policy Paper needs to dovetail with and complement the recognition in the Government’s own Climate Action Plan of the vital future importance of natural gas.

Gas will be a key part of our future energy mix to provide the energy security need for a vibrant economy which can attract investment and jobs.”

ENDS

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