INTERNATIONAL companies given licences this month to explore potentially lucrative sections of Irish water for oil and gas will each have to pay less than €10,000 a year for the privilege.

THE first gas from the Seven Heads field off the Cork coast will begin flowing in the next few days.

Statoil Exploration Ireland Limited (SEIR) are to begin a €17m drilling exploration in late July on the Cong prospect - 32 nautical miles north west of Mayo.