British oil and gas exploration company IGas Energy has secured planning consent from Lincolnshire County Council to develop a new oil well site near Gainsborough in Lincolnshire.
Located close to IGas’ existing Glentworth-K site, the temporary well is scheduled to operate for up to 21 years, reported the BBC.
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IGas interim executive chairman Chris Hopkinson said: “This will help us deliver on our strategy of pursuing lower-risk, infill opportunities, bolstering our oil production whilst we invest in growing our market-leading geothermal business.”
Lincolnshire county council issued the permit for an initial appraisal well and up to six horizontal development wells in the second development phase.
The first phase of the development is expected to add around 200 barrels of oil per day (bopd) while the second phase could add an additional 500bopd.
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In a press statement, IGas said: “If phase I is successful, this will be followed by further development drilling in subsequent years with the subsequent development having the potential to add an additional 500bopd and the addition of c.2mmstb 2P reserves from 2C.”
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By GlobalDataThe latest approval has been objected to by environmental campaigners and some local residents, reported the BBC.
IGas Energy, however, said that the scheme would secure a domestic oil supply.
The company plans to undertake exploratory work at the well over a period of ten months with production testing to be carried out during a further 12 months. Subsequently, a decision will be made on extending the well and installing a pipeline.
