Oil firms to invest more despite drill ban plan

The majority of Irish-focused oil and gas companies are still planning to invest in their operations here despite the Government’s intention to phase out oil exploration, more details of which are expected to be released in the near future.

Addressing the annual Atlantic Ireland exploration conference in Dublin, minister of state Seán Canney said more detail on the Government’s exploration policy will be forthcoming shortly. He said the Government will act swiftly to provide certainty for all interested parties.