Exploration & Production

Isle of Man opens new hydrocarbon licensing round

The government of the Isle of Man has opened a licensing round for hydrocarbon exploration in its territorial waters.
By Staff reporter 12 September 2017 0 27537

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.

The...