Green Party City Councillor Niall O Brolcháin has welcomed the announcement of a new oil and gas exploration round off the West Coast.

Minister for Communications, Marine and Natural Resources Eamon Ryan announced the round of exploration in the Porcupine basin last week. Interested companies are being asked to speak to his Department about potential oil and gas finds.

While, he welcomed the announcement, Cllr O Brolcháin said Ireland is too dependent on imported fuel and that any exploration would have to adhere to "the highest environmental standards".

Speaking to the Galway Independent, he said, "Although we ultimately need to move to a sustainable energy future, in the short term it would be helpful if we could provide for a much greater proportion of our own energy needs than is currently the case." Cllr O Brolcháin said he felt it was important that such an industry be located in the West of Ireland so that local people would benefit.

The acreage on offer covers unlicensed blocks in an area of approximately 63,500 square kilometres.

According to Minister Ryan, "Over the last decade our dependence on imported oil and gas has grown to over 85 per cent. This reliance on imported fuels from areas of the world that are geopolitically volatile, contributes to price instability and vulnerability in Ireland.

"New domestic sources of oil and gas would ease this pressure. As we approach a peak in oil finds, Ireland has become much more attractive to oil and gas companies. I am pleased that finds under this licensing round could potentially yield much greater funds for the Exchequer. The change in the tax regime I announced in August will apply to Porcupine Basin finds.

"Therefore, profitable fields will pay up to 40 per cent in taxation to the Exchequer. That's a top rate increase of 15 per cent for the oil and gas companies involved. Ireland's oil and gas is a resource of the people. I want to ensure that our waters are fully explored and also that we get a proper return to the State," he said.

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