Exploration licences in the South Porcupine Basin are to be included in the Petroleum Infrastructure Programme (PIP), the Minister for the Marine and Natural Resource, Dr Woods, has announced.

Under the PIP, companies awarded licences in the area will have to contribute funds towards a Porcupine Studies Group, which seeks to provide research information on the area to the Government.

The cost of the study group will be equally shared among licensees, with a maximum annual cost of £165,000 per licence. The licensees for the area are expected to be named by Dr Woods before the end of the year.