UKOG widens options for offshore Isle of Wight drilling

Offshore staff

LONDON – Britain’s Oil and Gas Authority has awarded UK Oil & Gas (UKOG) a 200-sq km (77-sq mi) license on the Isle of Wight.

The award will allow the company and its partners to drill an extension of the M Prospect, contained primarily within offshore license P1916, from an onshore location.

The structure has potential for significant oil volumes in Portland and Triassic intervals, and further prospects have been identified at the same levels in the new license that appear to be on trend.

UKOG expects to apply next year for regulatory consents to drill both the M Prospect and an appraisal/development well adjacent to the Arreton-2 oil discovery.

12/23/2015

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