The huge reserves at Horse Hill are in shale beds that are fractured naturally, as UPI.com reports.
At least 10 billion barrels of potential oil is thought to lie in the Horse Hill shale licence area in the south of the country, a British group said. U.K. Oil and Gas Ltd. said an independent assessment from oil services company Schlumberger found a mean 10.9 billion barrels of oil in place in a 55 square-mile area of the Horse Hill basin.
U.K. Oil and Gas Chairman Stephen Sanderson said the independent analysis predicts “significant” oil volumes and gives further support for development plans.
The company early this year said the reserves at Horse Hill are in shale beds that are fractured naturally, meaning extraction may be carried out using conventional techniques.