A Douglas-based oil company is hoping to start producing crude from a newly-discovered source in South America.
Emerald Energy Plc, which also operates in the Middle East, has called the new well in Colombia Vigia number six.
Tests showed the Colombian well could deliver more than 850 barrels of oil a day.
New Costa Coffee store opens on Peel Promenade
Based in the former Harbour Lights premises on Shore Road
Guinness strike won't affect Island's supply
Reassurance from Diageo ahead of Christmas
Tynwald backs amended motion to strengthen support for Manx produce
Supermarkets and government services expected to prioritise local food under Food Security Plan
Chamber calls for 'fast, simple and meaningful support'
Treasury Minister suggests some concerns are unfounded
