4.750
%
Negative
21
mm boe
0
%
The government's approach continues to undermine Ireland as an investment destination, with the ban on new exploration licences in force. We have raised the risk premia to 4.75%. Outlook maintained because the licensing ban remains in place. Outlook: Negative. Risk premia unchanged at 4.75%.
October 7, 2026
Europe - North West
mm bbl
bcf
Western Europe, occupying five-sixths of the island of Ireland in the North Atlantic Ocean, west of Great Britain.
Concession
Ireland’s O&G fiscal regime consists of corporation tax, a profit resource rent tax ("PRRT") and a petroleum production tax ("PPT"). PRRT is not deductible for corporation tax purposes and only applies only to exploration licenses and reserved area licenses awarded on or after 1 January 2007. PPT is deductible for corporation tax purposes and is not liable of licences that are subject to PRRT.
Ireland is a stable, low-risk EU member; the Fianna Fáil–Fine Gael coalition under Taoiseach Micheál Martin was re-formed in January 2025. US and UK guidance highlight a pro-FDI environment and an English-speaking, common-law system, while noting the shift to the 15% global minimum tax, exposure to US tariff and tax policy, and housing constraints. New oil & gas exploration licences are banned. Gas from the declining Corrib field and imports via the UK supply demand, and the government is developing a state-led strategic gas reserve.
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
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