Crogga plans to drill for gas from next year

Crogga Limited has shared its plans to start drilling for gas on Island from 2023.

In what it's calling the 'Independence well' - Crogga will begin to drill off Maughold Head sometime next year - with the company hopeful production can start in 2026.

Crogga was granted a license from the government back in 2018 to undergo the drilling - and commits the company to acquire a 3D seismic survey and drill two appraisal wells.

Work was delayed due to the pandemic - which ultimately saw the Manx government extend the excisting license in May this year.

In a statement released earlier this week, Crogga says if successful - the move will provide energy independence - with the business committed to cap gas prices at 80p.

Chief Executive Officer of Crogga, Dr Richard Hubbard, explained why he believes the drilling could be a good move for the Island: