THE EU Commission is meeting oil industry representatives today to discuss toughening regulations and safety standards for drilling.

The move is the latest response to the BP disaster in the Gulf of Mexico, which has left the multinational looking at a massive bill and long-term damage to its reputation.

Events in the Gulf of Mexico mean that offshore drilling everywhere is likely to face greater scrutiny.

Exploration activity off the Irish coast has stepped up in recent years. Providence, Serica and a number of other groups are pursuing a number of – mainly gas – prospects off the west and south coasts.

The State recently announced a new exploration licensing round to follow up those issued over the last two years.

Last week, Minister for Natural Resources Conor Lenihan said his department would step up on-board audits and inspections at drilling rigs operating off the Irish coast.

That initiative follows recent legislation bolstering safety standards and making the Commission for Energy Regulation responsible for enforcing them.

Fergus Cahill, chairman of the Irish Offshore Operators’ Association which represents companies drilling for oil and gas in Irish coastal waters, agrees that the BP disaster is bad for the industry.

But he argues that the Irish industry should not suffer unduly, as most of the drilling in the Republic’s waters is for gas rather than oil, although one operator, Serica, did encounter oil off the west coast last year.

While there are serious risks with both commodities, gas is less of a pollutant. However, Mr Cahill says tough regulation is necessary in either case.

“It’s not an industry for light touch regulation,” he says.

“We welcome the Minister’s announcement to step up oversight of drilling here, and suffice to say that that’s going to be extremely rigorous.”

Along with today’s meeting at the European Commission, the oil and gas exploration and production industry’s EU-wide body, the OGP, is set to meet next week to discuss how it can improve safety.