This is the second huge discovery this year. It was only in May we heard that Hurricane Energy had been increasing their estimates from 600 million to 2 billion and now to 8 billion based on discoveries west of Shetland in just one month:
Now what seems to be a further billion barrels of recoverable oil has been found to the west of Shetland in the strangely named ‘Greater Lancaster Area.’
Suggesting that this is additional to the finds in May, it’s been described as ‘the largest undeveloped discovery’ of oil in UK waters.
Oil and Gas UK have said:
‘There are still up to 20bn barrels of oil and gas to go after in the UKCS [sic] and we believe that makes the basin a very positive investment prospect indeed.’
It seems Hurricane Energy’s success is due to concentrating on neglected geological formations known as ‘naturally fractured basement reservoirs’ and that these are common west of Shetland.
So, once more, here is evidence of massive energy wealth which would be available to an independent Scotland which by all the signs would soon be entirely self-sufficient on renewable energy sources by 2030 and so able to sell all the oil to the fast growing economies in Asia.
This is just one more indicator of how the GERS figures serve only to deceive and to undermine us.