Union Jack Oil receives approval for drilling and production at West Newton

Union Jack Oil

Union Jack Oil plc (LON:UJO) a UK focused hydrocarbon production, development and exploration company, has announced that the East Riding Planning Committee has approved the planning application for drilling and production at the West Newton A site and have separately approved a time extension to allow further exploratory drilling at the West Newton B site.

In September 2021, the Oil and Gas Authority’s domestic oil and gas production supply forecast were seen to fall below the Climate Change Committee projections for domestic oil and gas demand based on its Balanced Net Zero Pathway to 2050.

The current crisis has made even more clear the significant domestic oil and gas supply gap that will need to be filled either by further imports or new domestic production.  

The West Newton project is expected to support security of supply, contribute to reducing the widening supply gap and bring meaningful local inward investment and employment to the East Riding, consistent with the government`s levelling-up agenda.

We’ll keep you in the loop!

Join 1,000's of investors who read our articles first

We don’t spam! Read our privacy policy for more info.

Share on:
Find more news, interviews, share price & company profile here for:
Union Jack Oil Plc (LON:UJO, OTCQB: UJOGF) continues to move forward with its growth strategy, particularly with its expansion into the United States.
Union Jack Oil plc updates on the Moccasin 1-13 well in Oklahoma, confirming it as a commercial oil discovery with promising production rates and potential revenue growth.
UJO is rapidly progressing with the installation of permanent production facilities, a move that underlines the strength of its US expansion strategy.
Union Jack Oil plc shares a promising commercial discovery in the Moccasin 1-13 well, Oklahoma, confirming its potential for significant oil production.
Union Jack Oil plc (LON:UJO, OTCQB: UJOGF) reports promising developments at its Moccasin 1-13 well in Oklahoma, highlighting potential oil prospects.
Union Jack Oil plc (LON: UJO, OTCQB: UJOGF) announces the spudding of the Moccasin 1-13 well in Oklahoma, USA, with a 45% working interest.

Search

Search