In Great Britain large oil reserves were found 50 kilometers from London by oil exploration company UK Oil and Gas Investments (UKOG). But only a fraction of the 100 billion barrels would be recovered. It is worth 9.6982 billion liters of oil per a square meter. According to the company’s estimation, oil is 600 meters underground or even deeper. Experts suppose that only 15% of the reserves can be recovered. Despite all the circumstances, the discovery is of national importance. “We think we’ve found a very significant discovery here, probably the largest in the last 30 years, and we think it has national significance,” Stephen Sanderson, UKOG’s chief executive said. Journalists published preliminary data which showed that around 8.6 billion barrels of oil can be extracted from the oilfield. This amount stands for 20%of oil extracted from the North Sea for the last 40 years. If one barrel costs $58, the income will be $500 billion. Experts have known about this place for a long time, but only now they managed to drill a well. This place was called Britain’s Dallas. Most experts believe hydraulic fracturing will be needed to get commercial quantities of oil from the region.
