Above: Montserrat

By the Caribbean Journal staff

Montserrat says it is making progress with its geothermal exploration project.

The Iceland Drilling Company has already offloaded auxiliary equipment, and is set to return with the rig.

Montserrat’s government says the project could “revolutionize Montserrat’s economy” by providing less costly power and potentially positioning the island to export power to its neighbours.

The United Kingdom’s Department for International Development has allocated almost $13.5 million for geothermal exploration in Montserrat.

Iceland Drilling signed a contract with Montserrat in October 2012.

The drilling and testing phases of the project will reportedly take between three and four months.

Montserrat is one of three islands in the Eastern Caribbean pursuing geothermal power, including Dominica and Nevis.