BGS to Assist with Hydrocarbon Exploration Offshore Isle of Man
The British Geological Society (BGS) has been selected by the Isle of Man Department of Economic Development as a hydrocarbon technical advisor to assist with the exploration of oil and gas offshore the Isle of Man.
Commenting on the partnership, Ken Milne, director of energy and support services at the department of economic development, said in a government statement:
“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 maximizing 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-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.”
Margaret Stewart, Petroleum Geoscientist at BGS, commented in an organization release:
“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.”