Seabed claim could unlock riches

THE Government has staked a major claim with the UN over Atlantic Ocean seabed rights to offshore oil, gas and minerals covering an area equivalent to almost half the size of the country.

Ireland’s claim will be considered by a seven-strong special commission of the world body in August.

The extension of sovereignty to cover these huge new tracts of the continental shelf could lead to the exploitation of massive sub-sea riches by future generations.