Nine groups of exploration companies have submitted 14 applications for 58 blocs of part blocs in the Rockall Trough by the close of the Petroleum Exploration Licensing Round in the area, the Minister for State at the Department of Transport, Energy and Communications, Mr Emmet Stagg announced yesterday.

Seventeen different exploration companies are involved in the bids and Mr Stagg said he was very encouraged by the industry's response to the round.

"The makes me optimistic about commercial discoveries in the Irish offshore," the Minister said. The licensing round was announced in March and the applications are now being assessed by the petroleum affairs division of the Department of Energy.