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Oil Prospecting off Lanzarote Moves A Step Closer

Thursday December 8, 2011

Oil Prospecting off Lanzarote Moves A Step Closer

Prospecting for oil in the waters surrounding Lanzarote came a step closer to reality yesterday when the new president of the Cabildo of Gran Canaria, José Miguel Bravo de Laguna declared his interest in conducting a full study into potential reserves located off the coast.

This could mean that drilling would take place in waters closer to Lanzarote and Fuerteventura than the exploration that may start next year by the Tangiers Petroleum Limited company, who have been granted permits by the Government of Morocco to explore the area off the coast of Tarfaya. Despite the fact that conservation groups have expressed concerns about the potential impact of any spill on the island’s all important tourist sector.

However Sr Bravo de Laguna, of the Partido Popular, was quick to allay fears about the potential harm to the environment and the tourist industry of the islands by citing the excellent track record held by Norwegian prospecting in the North Sea, where the oil industry works alongside widespread fishing.

He added that ‘extraction is perfectly compatible’ with preservation of the natural environment and suggested that permits for petrol exploration could well be granted within this government's term.

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