Govt's go-ahead to hydrocarbons search

Dr Ken Miline pictured on right

Manx waters licencing round begins

The government is inviting those interested in exploring the Island's waters for oil and gas to come forward.

Prospective applicants have until December 10th to become involved in, what's termed, the hydrocarbons licensing round, which starts today (11 Sep).

Exploration teams can view the potential of the entire Irish Sea area as this round of licensing coincides with a similar exercise in the UK.

Suggestions as to how much the Island might gain in fees and taxes, if the exercise goes well, range up as high as a hundred million pounds in twenty years.

Director of Energy Policy, Dr Ken Milne, says its a lengthy process:   

More from Isle of Man News