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DED wants firms to look for gas and oil in Island's seabed

Tue, 12 Sep 2017


The Manx Government wants to appoint a firm to look for gas and oil in the Island's seabed.

The Department of Economic Development is seeking to give licences to those qualified for potential hydrocarbon exploration.

Political member of the DED Lawrie Hooper believes the seabed could generate a significant source of revenue for the Isle of Man economy is harnessed properly.

The British Geological Survey says this is a great opportunity for developers, with gas having been identified but not extracted more than 20 years ago.

The UK is currently seeking to make similar appointments for elsewhere in the Irish Sea.

The licensing round is open until December 10th, with application packs available from the DED.

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