ENVIRONMENTALISTS might have failed to stop oil exploration off the Canaries, but Repsol has abandoned its plans after finding reserves were too small to commercially exploit.
The energy giant has announced it will stop searching for oil and gas despite having permission to do so from the central government.
Its drilling activities had been criticised locally, nationally and internationally with particular concern being voiced over environmental issues.
The regional government was at the forefront of objectors with tourism and fishing concerns before Repsol started exploration last November, but it was ignored.
In a press release Repsol said: “An analysis of samples obtained from the Sandía site survey confirmed the existence of gas – from methane to hexane – but lacking the volume and quality required to consider future extraction.”
It added: “No additional investigation will be conducted in the area, and the dynamic positioning vessel Rowan Renaissance will return to Angola to continue the hydrocarbon exploration programme that Repsol is carrying out in that country.”