DOUGLAS, Isle of Man – The British Geological Society (BGS) will serve as technical adviser to the Isle of Man government for development of the island’s offshore energy strategy.
This could lead to further licensing opportunities in the Irish Sea.
Dr. Ken Milne, director of Energy and Support Services at the Department of Economic Development, said: “During the 1990s the Isle of Man government issued several prospecting licences to petroleum companies. Data collected from the previous prospecting studies has been re-analyzed 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, added: “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.”
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