UK offers rights to drill shale oil and gas in 27 blocks
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, the UK is offering some oil and gas companies the rights to drill for shale oil and gas in 27 onshore blocks in order to kick-start the country’s shale gas industry. IGas Energy Plc, Ineos Group AG and Cuadrilla Resources Ltd. are reportedly the major companies to which the UK government has offered these rights.
IGas won the rights to seven of these blocks, Ineos won the rights to three and Cuadrilla to two while each block indicates an area of around 100 square km. The UK aims to accelerate the development of the domestic shale gas industry with tax incentives and faster planning procedures despite opposition from some local communities and environmentalists. UK Energy Minister Nicholas Bournes reportedly stated that oil and gas industries play a key part in providing secure and reliable energy for the country.
The contracts for the 27 blocks will be effective later this year after another 132 blocks will be assessed in greater detail at a later date.
IGas won the rights to seven of these blocks, Ineos won the rights to three and Cuadrilla to two while each block indicates an area of around 100 square km. The UK aims to accelerate the development of the domestic shale gas industry with tax incentives and faster planning procedures despite opposition from some local communities and environmentalists. UK Energy Minister Nicholas Bournes reportedly stated that oil and gas industries play a key part in providing secure and reliable energy for the country.
The contracts for the 27 blocks will be effective later this year after another 132 blocks will be assessed in greater detail at a later date.
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