The main investor at the Horse Hill oil site in Surrey has announced plans for two new production wells.
The weald-based UK Oil & Gas plc (UKOG) is promoting prospects of oil production in south east Turkey as it seeks three more exploration licences in the region.
UK Oil & Gas plc announced today it had raised £2.2m to fund initial operations in its new interest in the Resan oil exploration project in Turkey.
The new company that will lead UKOG’s plans to explore for oil in Turkey inherits its name in a complex journey, thousands of miles away in southern England.
The company behind oil drilling at Horse Hill in Surrey said this morning it had taken a licence stake in south east Turkey in the hope of “rapid monetisation” of reserves.