The government of the Isle of Man has opened a licensing round for hydrocarbon exploration in its territorial waters, the island’s Department of Economic Development announced on Tuesday.
"This acreage has not been looked at for more than 20 years, when gas was identified but not extracted. Since then, there have been huge technological advances that mean any hydrocarbons in Isle of Man territorial seas may now be economically viable to extract," Darren Jones, petroleum geologist with the British Geological Survey (BGS) said in a note.
Log in or register for a free trial to continue reading this article
Not a subscriber?
To access our premium content, you or your organisation must have a paid subscription. Sign up for free trial access to demo this service. Alternatively, please call +44 (0)20 3004 6203 and one of our representatives would be happy to walk you through the service.Sign up