Ireland

Investment & Operational Criteria

Key Indicators

Risk Premia

2.000

%

Outlook

Uncertain

Rating

AA|2S|§

Ranking

9

Reserves (1P)

Total

mm boe

Oil

0

%

Summary

The government’s approach to its declining hydrocarbon industry has historically been measured and fair. However, the amendments to the "Climate Emergency Bill" cause concern, despite providing some relief to its O&G segment. That more draconian measures are planned, significant risks are prevalent. Consequently, the outlook remains Uncertain.

Updated

March 1, 2023

Country Basics

Region

Europe - North West

Reserves (1P)

Oil

mm bbl

Gas

bcf

Location

IrelandIreland

Western Europe, occupying five-sixths of the island of Ireland in the North Atlantic Ocean, west of Great Britain.

Outline

Tax Regime
Type

Concession

Tax Regime
Notes

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.

Investment & 
Operational
Climate

Ireland joined the European Community in 1973 and the euro-zone currency union in 1999. Growth since 2008 has ben measured and consistent, fuelled by continued foreign direct investment, especially from US multinationals drawn by its attractive tax structure.

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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Related Basins

Europe - North West

Countries

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