British UK Oil and Gas Investments has opened a new oil field near London
April 09, 2015
Exploration companies UK Oil and Gas Investments (UKOG) released preliminary estimates of reserves oil field discovered near London. According to The Telegraph, the total recoverable reserves - about 8.6 billion barrels, which represents approximately 20% of all the oil pumped out of the North Sea over the past 40 years. If we proceed from the current price of $ 58 per barrel, oil deposits worth about $ 500 billion. It is the largest onshore fields discovered in the UK in the last 30 years.
On the news of the opening share prices UKOG 9 April jumped three times, writes The Guardian. The deposit is located 50 km from London Gatwick Airport. Its total reserves are estimated at 50-100 billion barrels. Oil-bearing formation at a depth of about 800 and 900 m. Executive Director Steven Sanderson told UKOG portal EnergyVoice, the company, based on the returns of similar formations in the United States and Western Siberia, expects 5-15% of recoverable oil, enabling it to 2030 provide 10-30% of the needs of the UK's oil. Most experts believe that UKOG have to use hydraulic fracturing, but the company said that at least some parts of the production is possible without the use of this method.
Sanderson said that the very oil provinces outside London, which is called the "British Dallas" has been known for a long time. However, his company was the first time in 30 years in the area drilled deep enough hole, also contributed to the discovery of the latest data processing technology. Together, these factors will also radically re-evaluate the density of stocks - from 7.7 million to 61 million barrels per square mile.
Based on materials from The Telegraph
April 09, 2015
oil-gas-energy.com.ua