Oil rig countdown.

[fifi]

Drilling for oil off the Canaries is expected to begin by the end of next year, sources at Spanish oil giant Repsol have confirmed.

As the legal and political battle over the awarding of exploration rights continues, the company, which is in the process of preparing the mandatory environmental impact assessment for the drilling, says it could open up to 20 wells if it strikes lucky when the initial work commences in late 2014. Repsol says it will be looking not just for oil but natural gas also off the coast of Lanzarote and Fuerteventura, although in no case closer than 50 km from the shore. It is believed the firm has already ruled out, due to the sea depths involved, the use of the standard oil rigs for the drilling work and is opting instead for more mobile ship-based rigs. A Repsol source says each of its two planned explorations will cost in the region of €100 million

[Paddster]

What do you think of this fi ?

[KWC]

I suppose if there is oil and gas our there, we need it out more than in. Under normal circumstances, the drilling and removal of the oil will be safe and controlled.

BUT! if it goes wrong it will devastate the islands and subsquently, tourism in the long run.

I hope these ship rigs are well anchored down and they are inspected closely.
Its small mercy that they won't be seen from the shore at that distance.

[Cool Cat]

Does anyone no the company of the oill rig? me and my husband are moving out to fuert he currantly works in u.k on an oil rig but rthis would be perfect if we could send c.v and contact them. thanks

[glenys]

If there is drilling being done I think it's better that Spain is in control rather than Africa. I hope it will be very well run and there won't be any problems. It should bring a lot of money and people to the Canary islands so that would be good.

[peejay]

Read Fifi's original post Cool Cat - the oil company is Repsol.

[KWC]

A Spanish company and they have a good safety record and are profitable, well experienced in the drilling sector so they should be ok!!

Read all about them here: http://www.repsol.com/es_en/

[Truncheon Meat]

Face facts.

The human race as we know it is entirely dependant on oil and all it's derivatives. It is a finite resource and one day we will suck the last drop out of this glorious blue planet and the cancer that is mankind will cease to exist. No doubt the planet will recover and get along very nicely without us.

It hopefully won't happen in our lifetimes but our children and grandchildren will suffer the outfall of the inevitable wars that will be fought for those last precious drops.

The exploration and recovery of this black gold is a necessary evil we all have to bear to continue our lives and the short term gains in the form of work to any region it affects should be welcomed, especially in areas such as ours were employment is hard to find.

Sure, things will go wrong occasionally causing catastrophic damage but it's a price we must pay. It's a bit like Neil Young's The needle and the Damage Done. You know what you're doing is wrong but it's too late to stop.

A gloomy post I know but I'm sure everyone, deep down, realises that it's the truth and our days are numbered. For now I'm glad to be more happy than I ever thought possible and living a perfect life in the sunshine.

[KWC]

I have the rope, just need a high branch somewhere

[Spike On Q]

Lets hope the work comes to the Island - we have a great harbour at Gran Tarajal that is very underused. I used to lay underwater pipelines.  "Giz a job!" - think of the spondoolicks!!

I know my days are numbered - 23,725 on April 6th

[dagwood]

Ill get me bike and wolly hat out, but oh God I need oil for the chain.

[fifi]

The Association of Research Companies, Exploration and Production of Hydrocarbons (ACIEP) estimates that there could be  157,500 million euros worth of oil and gas off Fuerteventura and Lanzarote at current market prices.

http://translate.googleusercontent.com/translate_c?act=url&depth=1&hl=en&ie=UTF8&prev=_t&rurl=translate.google.ie&sl=auto&tl=en&u=http://www.canarias7.es/articulo.cfm%3Fid%3D295196&usg=ALkJrhivBjjWH87CvCNJPnKjrx2z7ncNhQ

[dicko]

That makes my holiday home worth an estimated £6million whoop whoop

[Truncheon Meat]

Hardly seems worth the effort for such a small amount now but when it gets more scarce then the value to cost ratio will be much more lucrative. Perhaps this time they'll just locate it and sit on it until the time is right to harvest it. Delayed gratification.

[PeterHeirman]

The map: drilling east of Fuerte and Lanzarote
As the trade winds are from the north east then any spill will be spilled onto the beaches of Fuerte
http://daily.epictv.com/blog/2012/12/19/sailing-against-oil-drilling-in-canary-islands/


http://www.janetanscombe.com/news/authorisation-imminent-for-oil-prospecting-off-eastern-islands.html



Drilling by: Woodside (Australia) and Repsol (Spain)

[Truncheon Meat]

Shift that overlay to the left a bit and that's the area that the heavy oil fired power station covers day in, day out with it's carcinogenic yellow cloud that is visible as far as the eye can see every day but no one seems to worry about that too much.

Perhaps if the oil industry comes to the island and injects some cash then a modern unit could be built somewhere away from the most densely populated areas and with proper scrubbers on the chimneys. I have absolutely no idea how they get away with it in these times of the eco warriors and their constant worries about what might happen. This problem is a fact and affecting a huge area now.