By Euro Weekly News Media • 09 April 2015 • 8:55
THE size of an oil find in the Weald Basin near Gatwick Airport, has been estimated at 100 billion barrels, though extraction may be limited to less than that amount.
In a surprise announcement made by UK Oil & Gas Investments, the site that was previously surveyed in 2014 and thought to hold approximately 4.4 billion barrels, is now believed to hold 158 million barrels per square mile.
Stephen Sanderson, the CEO of UK Oil and Gas Investments described the find as, ‘a possible world class potential resource, with the potential for significant daily oil production.’
The Horse Hill-1 well near Gatwick, is being hailed as probably the largest onshore discovery in the UK in the last 30 years.
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you don’t already have one. Review our
Share your story with us by emailing [email protected], by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews
Your email address will not be published. Required fields are marked *
Download our media pack in either English or Spanish.