Drill tax set to be a burning issue

The coming year is set to be another interesting one in terms of the development of Ireland’s much mooted, though still largely unproven, offshore oil and gas potential.

Depending on whose opinion you seek, 2014 will either be a pivotal turning point in the early development of a breakthrough new sector for the Irish economy, or another 12 months spent crossing fingers and hoping the Government doesn’t scare prospective overseas parties away.

It will probably prove to be a mix. With virtually no drilling activity pencilled in, most developments will be via government updates. April looks particularly interesting, in that regard.