An oil field found near Gatwick Airport is believed to be much bigger than previously thought.
An independent body has said that there may be 100 billion barrels of onshore oil in the area. In the last 40 years, North Sea extraction has produced around 45 billion.
Stephen Sanderson, UK Oil and Gas Investments, told the BBC: ‘We think we’ve found a very significant discovery here, probably the largest in the last 30 years, and we think it has national significance.’
But there’s a problem.
The terrain isn’t very forgiving and has been compared to places with similar geology in the U.S. and west Siberia. They estimate that only between three per cent to 15 per cent could actually be extracted.