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
