Author: Simon Perry
Isle of Wight Offshore Oil Drilling Licence Awarded
12:29 pm Thursday, 5th January, 2012, Isle of Wight
ShortURL: http://wig.ht/29cH
Read More- Business, Island-wide, News, Overseas, South Wight, West Wight
Northern Petroleum Plc this morning announced that they have been awarded the rights to carry out oil drilling opeations in two areas off the shores of the Isle of Wight.
Initially exploration will be carried out there, “to evaluate the oil and gas potential of the mapped well-defined prospect that extends from the Isle of Wight into the English Channel,” say the company.
They add, “There is no firm drilling commitment attached to the licence award.”
Its location
The area extends from the shoreline of the Island on the South West, along the line of the Military Road.
Its outer boundaries form the other two sides of a large triangle.
Part of it attaches to the company’s onshore licence (PEDL 240) area on the Island, which they gained in May 2008.
Company recognises AONB
Appearing sensitive to concerns about carrying out works in an AONB, Derek Musgrove, Managing Director of Northern said,
“Northern recognises that the prospect is in an Area of Outstanding Natural Beauty (AONB) and a Heritage Coast.
At Northern we well understand the attendant challenges that are posed in conducting field operations in an environmentally safe and responsible manner.
To date, Northern has an exemplary track record for its drilling operations, the most recent of which was Markwells Wood-1, completed in January 2011, which is currently undergoing flow testing operations in West Sussex.”
A new company, NP Solent Limited, is being formed to carry out the business. This will be the majority licensee, alongside four other companies.
Map of area
The full press release
Full details are in their press release, embedded below
Why does the theme tune to “Dallas” keep running in my head now?
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That will put up house prices in Brook and Brighstone. Can the Military Road cope with this ?
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I have concerns with it being so close to shore.
these things are all good until something goes wrong and if something does go wrong what would the environmental impact be so close to shore?
I should imagine it would be difficult to contain an oil leak with so little space.
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I wouldn’t worry at all about this, Northern Petroleum are notorious for buying up drilling licenses and doing nothing with them, they are a company who talk lots and do little.
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So we can drill for oil in an AONB but can’t put a wind turbine up?
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They have been looking for oil on or about the Island for as long as I can remember.
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If you wish to complain then I would ask them why they have not considered a major geothermal plant somewhere. Once you have a response – I can come back with a few further suggestions. The only complaint I have is that oil companies digging everywhere for oil is both boring and annoying.
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Oh cant wait tll the Thwart brigade aka the not in my back garden group start moaning
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OK. New approach: ask them why they haven’t looked and researched new advanced geothermal and drilling techniques (which obviously works on water and steam) and offer to get one built in the same place. Obviously, it would need to generate enough power to the grid to provide everybody in the vicinity a lifetime reduction of say 75% – 80% in their energy bills as compensation.
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They have tried before, but I believe it just was not viable, now the price has risen and the oil is getting short they will spend a bit more on drilling etc. If something is found the island is likely to become a place to get to more easily so the money will be in place for a fixed link.
Well, we can but dream.
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I believe geothermal can be executed anywhere provided you can drill deep enough. In this case you would be hoping that there was no black gold as you wouldn’t want to spill it as you went past. Worth a quick investigation at this point. The US has the most geothermal activity going, but it is previous era type stuff.
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There is little chance of geothermal , While there is heat available in all parts of the world, some places would have to dig much deeper than this, making getting geothermal energy difficult. Thus, the costs for geothermal drilling in those areas would likely exceed the benefits. And it’s very unlikely the rig would be based in the sea in would be much easier to Rig up an onshore rig and simply drill out under the sea bed most rigs are capable of drilling to at least 20,000ft .
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Benefits are reasonable price stability over decades.
Granted, it seems geothermal is capital intensive upfront and in an investment environment looking for quick returns only – other plant suits better. (although it is questionable whether such industries pay all their own costs – including military).
You would require a new enhanced drilling technique (leaping forward a number of years) such that the possibility becomes less geographically bounded. Such progress is normally iterative and slow progress is made , as was mentioned, when it becomes price effective to do so. On the other hand you could choose to look over a longer period and invest more.
Current deepest boreholes are here: http://en.wikipedia.org/wiki/Kola_Superdeep_Borehole
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It’s a bit hand waving: … he estimates the true cost of oil at a stunning $480 a barrel.
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Sorry. That was on this link:
he estimates the true cost of oil at a stunning $480
http://www.energyandcapital.com/articles/oil-gas-crude/461
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