Ever wondered why the UK is so anxious to keep Scotland in the 'family of nations?' Well, here is one very good reason -
From STV News:
An oil exploration firm has reported a major discovery west of Shetland.
Surveys by Hurricane Energy indicate that the Lancaster and Halifax oil fields are actually a single entity featuring a column of oil a kilometre deep.
A billion barrels of oil could be contained within the well, making it the largest undeveloped discovery in the North Sea, according to Hurricane.
Chief executive Dr Robert Trice said: "This is a highly significant moment for Hurricane and I am delighted that the Halifax well results support the company's view that its substantial Lancaster discovery has been extended to include the Halifax licence.
"We believe that the greater Lancaster area is a single hydrocarbon accumulation, making it the largest undeveloped discovery on the UK Continental Shelf.
"These are exciting times for Hurricane
Hurricane reportedly needs to raise around £318m to develop the discovery and aims to begin extracting oil in 2019.
Meanwhile, oil has begun to flow from Maersk's Flyndre field, which straddles the UK and Norwegian sectors of the North Sea.
Production is estimated to peak at around 10,000 barrels of oil per day and the field is expected to be productive until at least 2023.
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