FOLLOWING the discovery of a major oil find off the Kerry coast last month by Providence Resources South Kerry FG TD Brendan Griffin has called for the establishment of a State body to co-ordinate and develop the oil industry in Ireland.
Deputy Griffin said it's crucial that the country gains the optimum benefits from the emergence of an oil industry here.
Providence Resources announced last month it will begin to drill for oil in waters off Dunquin in the early part of next year, howevere while Fenit could be used as a support port for any drilling operations the revenue and licensing terms surrounding oil drilling off Ireland's coast mean Kerry and Ireland as a whole is unlikely to see any significant profits from the find.
Speaking in the Dáil last week Deputy Griffin says the Government must ensure Ireland maximizes the potential of its oil industry.
Sinn Fein Deputy for Kerry, Martin Ferris also raised the recent oil finds off the Kerry coast in the Dáil stressing that revenue and licensing terms need to be radically overhauled if the Irish people are to benefit from such finds in the future.