Latest report described by industry as encouraging, but falls far short of the initial 100bn estimate after Horse Hill find
New estimates on the amount of oil contained in a discovery close to Gatwick airport suggest there could be over 9bn barrels in place. The upbeat review of the Horse Hill licence, located in the Weald Basin of southern England, comes from the oil reservoir consultant Nutech.
This followed another positive report a fortnight ago from oilfield services heavyweight Schlumberger, but the 9.2bn figure is a long way from the 100bn barrels boasted about initially.