Environment minister Michael Gove has blocked an independent oil and gas company from drilling for oil in the Surrey Hills after a ten-year battle with protesters. Mr Gove decided not to renew a permit held by Europa Oil and Gas to drill for oil within its Holmwood prospect at Bury Hill Wood, which is due to expire at the end of the month. In response, the oil minnow said it would withdraw its application to drill at the site, which has been dogged by protest from anxious local residents. Europa boss Hugh Mackay said the Government’s decision not to renew the lease at Bury Hill Wood “is disappointing”, but it won’t deter the firm from hunting out its black gold.
Telegraph 4th Sept 2018 read more »
Guardian 4th Sept 2018 read more »
AN oil and gas heavyweight may invest more than $500 million West of Shetland under a deal that could stoke hopes of a bonanza in what is seen as a frontier area. Spirit Energy is buying into licences held by a relatively small independent, Hurricane Energy, which has played a pioneering role in an area that remains under-explored compared with much of the North Sea. The acreage covered by the deal is reckoned to contain around two billion barrels oil equivalent. Spirit’s chief executive Chris Cox said the transaction provided the company with a tremendous opportunity to participate in the early phases of one of the last known world-class oil development opportunities in the UK. Spirit, which is owned by giant utility Centrica and German energy firm Stadtwerke München, has agreed to fund a $180m drilling campaign to appraise the Li ncoln find made by Hurricane and exploration drilling on the Warwick prospect. Mr Cox said a successful campaign could pave the way to a field development that would involve total investment of more than $1billion. The deal underlines the scale of industry interest in the West of Shetland area where giants such as BP and Royal Dutch Shell are developing huge new fields.
Herald 4th Sept 2018 read more »