asked the Minister for Energy the changes, if any, that are proposed in the existing licensing terms in respect of the proposed third round of licensing.

As I indicated on 29 February last when I announced details of the third licensing round, I do not propose to make any changes in the 1975 exclusive offshore licensing terms. These terms apply to all existing offshore licences and will remain in force in respect of licences issued under the third licensing round and otherwise.

As in 1975, the objective of the terms is to provide the maximum benefits for the people of Ireland, who own our offshore resources, while at the same time affording a fair and reasonable return for developers who possess the necessary technical expertise and financial resources to carry out the exploration and development of our offshore.

May I take it that the declared intention of the Minister not to make any change in the licensing terms extends also to the taxation provisions?

As the Deputy is well aware, the matter of taxation is one for the Minister for Finance.

Are we to take it that the taxation situation may well be changed?

That is a separate question.

I do not think there is any change.

Is there any change proposed?

I do not think so.

If there was a change proposed would the Minister be told about it?

It would probably come to my knowledge. I attend all Cabinet meetings.

15.