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British Geological Society to assist with hydrocarbon exploration in Isle of Man territorial seas
04 Apr 2016
The British Geological Society (BGS) has been selected by the Department of Economic Development as hydrocarbon technical advisors for the continued development of the Offshore Energy Strategy.
Dr Ken Milne, Director of Energy and Support Services at the Department of Economic Development, commented:
'I am delighted to be working with BGS on further exploring our hydrocarbon potential on the Isle of Man. As laid out in Vision 2020, we are working on maximising the potential benefits from offshore wind, tidal, gas and other energy sources in our waters.
'During the 1990's the Isle of Man Government issued several prospecting licences to petroleum companies. Data collected from the previous prospecting studies has been re-analysed and would indicate the presence of gas deposits. With improvements in technology it is possible that gas deposits in Isle of Man territorial seas may now be economically viable to extract.'
Dr Margaret Stewart, Petroleum Geoscientist at BGS, commented:
'The British Geological Survey (BGS) are delighted to be working with the Isle of Man Government to provide technical advice and encourage investment in their promotion of offshore oil and gas prospectivity. BGS have extensive experience in running and promoting licensing rounds in the UK and abroad, and provide a comprehensive technical understanding of the regional geology from which to evaluate hydrocarbon potential. We look forward to working closely with the Isle of Man Government over the coming years.'
The appointment of BGS follows recent developments in the Isle of Man offshore energy strategy with DONG Energy being selected to investigate development of an offshore wind farm and Manx Tidal Energy investigating potential for tidal power development.
Source: Isle of Man Government