A new study by the British Geological Survey (BGS) has found that Scotland has only a modest amount of shale reserves, with 80 trillion cubic feet of shale gas and 6 billion barrels of shale oil.
The estimates compare to 1,300 trillion cubic feet for the Bowland shale in the north of England and 4.4 billion barrels of oil in the Weald basin south of London.
According to the report, the complex geology of the area and historic mine workings indicate that exploratory drilling and testing is even more important to determine how much can be recovered. The amount of oil and gas which can be technically and commercially recovered is anticipated to be substantially lower.
The study found that shale gas and oil has clear potential in the UK but it requires geological and engineering expertise, investment and protection of the environment.
UK Business and Energy Minister Michael Fallon said that making the most of Britain’s homegrown energy is crucial to keep job and business opportunities, widen tax revenues and reduce its dependence on foreign imports.
"We know that shale gas alone won’t be able to supply all of our energy needs, but the environmentally responsible exploration of shale gas could contribute to our energy mix," Fallon added.
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By GlobalData"Only the broad shoulders of the UK can attract investment in new energy sources and maintain the UK’s position as one of the world’s great energy hubs – generating energy and generating jobs."
