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Britain just discovered over 100 billion barrels of oil near Gatwick

Large quantities of oil were discovered in the south of England at an oil well like this
Large quantities of oil were discovered in the south of England at an oil well like this

A small oil find near London’s Gatwick airport contains much more oil than first estimated, an independent report commissioned by the field’s developers said today.

Last year, the UK Oil & Gas Investments (UKOG) firm drilled a well near Gatwick airport and analysis suggests the local area could hold 158 million barrels of oil per square mile.

This is the largest onshore oil discovery in England since the 1980s. But only a fraction of the oil in the south of England spot – an estimated 3% to 15% – is believed to be recovered.

SASKIA VALLENDAR - Deputy-News-Editor

Recent graduate with a degree in journalism and cultural studies. Her interest lies in business and financial journalism.                                  Twitter: @saskiavallender

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