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'Significant' oil reserves found near Gatwick airport

Britain could see a significant increase in oil production after a geologists discovered reserves which could be as much as 100 billion barrels near Gatwick Airport.

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'Significant' oil reserves found near Gatwick Airport

Britain could see a significant increase in oil production after a geologists discovered reserves which could be as much as 100 billion barrels near Gatwick Airport.

The discovery at the Weald Basin by exploration firm UK Oil & Gas Investments (UKOG) is a "possible world class potential resource," the company said.

The exploration centred on Horse Hill (green marker) near Gatwick Airport (red marker). Credit: Google Maps

Geologists found 158 million barrels per square mile and it is estimated up to 15% could be recovered.

In 15 years the site could provide up to 30% of the UK's oil demand.

The company considers that the high pay thickness, combined with interpreted naturally fractured limestone reservoir with measurable matrix permeability, gives strong encouragement that these reservoirs can be successfully produced using conventional horizontal drilling and completion techniques.

Appraisal drilling and well testing will be required to prove its commerciality, but this Weald hybrid play has the potential for significant daily oil production.

– Stephen Sanderson, UKOG
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'Significant' oil reserves found near Gatwick airport

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