Gas deposits in local waters carry economic potential

Friday, 5 June 2015 00:00

Gas deposits in Manx waters have potential to add to the Island's economy.

Data collected from previous studies has been re-analysed - indicating scope for private sector investigations.

The Department of Economic Development will hold a licensing round and issue hydrocarbon licenses to extract it.

It's something which has been promoted at this week's EAGE Conference and Exhibition in Madrid to try and attract investment.

Director of energy policy Ken Milne says there's been some interest:

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