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Ibiza Oil Boom?

A specialist hydrocarbon exploration company has been given permission

A specialist hydrocarbon exploration company has been given permission by the Spanish Ministry of the Environment to carry out tests in the Mediterranean sea to see if oil or gas is present in the rocks underneath.

seismic exploration for oilSeabird Exploration is a Norwegian firm that is contracted by the world's big petroleum companies to find new places to exploit the fuels. They use a seismic system of exploration using special nodes which are placed on the sea bed and the signals from them are analysed on specially equipped ships sailing overhead.

These days as oil deposits have become more scarce and drilling technology has improved areas like the Mediterranean which were once considered to be uneconomic are now thought to be viable for production. Hence Seabird's request to map out a vast area between Valencia and the Balearic Islands for speculative exploration.

If they find any oil or gas we'll let you know immediately!

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