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Hydrocarbon Licensing Round Opened in Isle of Manís Territorial Waters

Source: www.gulfoilandgas.com 9/11/2017, Location: Europe

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The Department of Economic Development has opened a licensing round to select suitably qualified applicants interested in potential hydrocarbon exploration in the Islandís waters. The Islandís licensing round coincides with the UK 30th round, which includes the Irish Sea area, allowing exploration teams to take a holistic view of the potential of the region. The licensing round will close on Sunday 10 December 2017.

Lawrie Hooper MHK, Department Member with responsibility for Energy Policy, commented:

ĎIt is my pleasure to announce this important step forward in the Departmentís efforts to maximise the social and economic value of the Islandís territorial seabed, which is one of the commitments made in the Programme for Government. ĎThe subsurface of the seabed is an amazing natural resource which if harnessed could generate a significant source of revenue and help to further diversify the economy.í

The Departmentís technical advisors, British Geological Survey (BGS), have a data room available for interested parties to view Isle of Man seismic data at their offices in Edinburgh.

Darren Jones, Petroleum Geologist with the BGS, commented:

ĎThe opening of the Isle of Man licensing round represents a great opportunity for developers. This acreage has not been looked at for more than 20 years, when gas was identified but not extracted. The Department of Economic Development has opened a licensing round to select suitably qualified applicants interested in potential hydrocarbon exploration in the Islandís waters.

The Islandís licensing round coincides with the UK 30th round, which includes the Irish Sea area, allowing exploration teams to take a holistic view of the potential of the region. The licensing round will close on Sunday 10 December 2017.

Lawrie Hooper MHK, Department Member with responsibility for Energy Policy, commented:

ĎIt is my pleasure to announce this important step forward in the Departmentís efforts to maximise the social and economic value of the Islandís territorial seabed, which is one of the commitments made in the Programme for Government. ĎThe subsurface of the seabed is an amazing natural resource which if harnessed could generate a significant source of revenue and help to further diversify the economy.í

The Departmentís technical advisors, British Geological Survey (BGS), have a data room available for interested parties to view Isle of Man seismic data at their offices in Edinburgh.

Darren Jones, Petroleum Geologist with the BGS, commented:

ĎThe opening of the Isle of Man licensing round represents a great opportunity for developers. This acreage has not been looked at for more than 20 years, when gas was identified but not extracted. ĎSince then, there have been huge technological advances that mean any hydrocarbons in Isle of Man territorial seas may now be economically viable to extract.í

Parties interested in submitting an application for acreage should contact Dave Roberts, the Departmentís Development Manager for Infrastructure, to request an application pack: email dave.roberts@gov.im or telephone +44 1624 687184.

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