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.
Committee calls for new sea services framework by end of 2025
Panel also wants Tynwald to consider whether operator should be a statutory board instead of arm's length
E-gaming company fined £700,000 over regulatory failings
BMO Manx was licensed between 2021 and 2023
Isle of Man's food security 'exceptionally good' says chief minister
Alfred Cannan defends Food Security Plan which was backed by Tynwald
Gas company says reduction is 'great news' for customers in the middle of winter
It takes effect from 1 January 2025
