One of the UK’s largest oil and gas companies has reiterated its optimism for the prospects of a UK shale gas industry. The statement comes days after fracking company Cuadrilla finally starting to drill in Lancashire, despite months of public opposition and geologists questioning the feasibility of a UK industry.
IGas is “poised to capitalise on its potential” having restructured the organisation towards the UK fracking industry, and secured planning permission for new shale gas projects, its non-executive chairman, Francis Gugan, writes in the company’s annual report published online this week by Companies House.
The company is due to commence drilling at a site at Tinker Lane and Springs Road in North Nottinghamshire – likely later this year – once final conditions around its planning permission are agreed with local authorities. IGas told DeSmog UK it expects to give an update on its plans to the market at the end of September.
