Committee Reports > List of Committees > Dáil > 1976 > Committee of Public Accounts > Report - Appropriation Accounts 1973 - 1974

APPENDIX 4.

RECEIPTS UNDER PETROLEUM AND MINERALS DEVELOPMENT ACTS

10 Nollaig, 1975.

Cléireach an Choiste,

An Coiste um Chuntais Phoiblí,

Baile Átha Cliath 2.

A Chara,

With reference to my examination before the Public Accounts Committee on 20 November, 1975, in connection with the Appropriation Account for the year ended 31 March, 1974, I undertook to supply some further information in regard to receipts as Appropriations-in-Aid under the Minerals Development Act, 1940, and the Petroleum and other Minerals Development Act, 1960.

The receipts have been broken down into two categories:

(i) Offshore Minerals (£177,136):

These comprise dead rents on leases granted to Marathon Petroleum Company and application fees, consideration fees and rentals paid by about 60 holders of non-exclusive petroleum prospecting licences. About 84% of these receipts were from dead rents and 16% from non-exclusive licences.

(ii) Onshore Minerals (other than petroleum)—(£307,470):

These comprise royalties, dead rents merging in royalties, prospecting licence applications and consideration fees. Royalties and dead rents from leasing facilities collected from 20 companies accounted for 99% of the total, the remaining 1% being application and consideration fees in respect of prospecting facilities. Some 51 companies were engaged in exploration during the year 1973-74.

Is mise, le meas,

P. Ó SLATARRA,

Oifigeach Cuntasaíochta,

An Roinn Tionscail agus Tráchtála.