Gas and oil firm UK Oil and Gas (UKOG) has given up all hopes of drilling on the Isle of Wight — 10 months after plans for an exploratory well were thrown out.
Campaigners opposed to the plans have welcomed the announcement. In its weekend newsletter, Don’t Drill The Wight said it was ‘delighted’.
Last week, UKOG told investors it had ‘relinquished’ its petroleum exploration development licence for the Island. The announcement was made in an interim update to the London Stock Exchange.
The exclusive licence, to seek and produce oil here, was granted by the government in 2016 and covered over 200km² of land — more than half of the Isle of Wight, including beauty spots in the West Wight and at Arreton.
UKOG believed nearly 15 million barrels of oil could be recovered and its licence, PEDL331, was due to run until July 2023, with a plan for 2 oil well sites.
In October, a proposal for the first — an exploratory site in Arreton — was thrown out by the Isle of Wight Council. Members of its planning committee unanimously refused the borehole application, due to its potential impact on tourism and ‘demonstrable’ impact on the Island’s natural environment.
In March, UKOG said it would not appeal that decision, but did not confirm the future of a second site, in Godshill.
By relinquishing its PED licence, UKOG will not be allowed to drill or explore for oil on the Isle of Wight.
Arreton’s Councillor Suzie Ellis said she was very glad to read the news. She said:
“Coupled with the recent announcement they would not be appealing the planning committee’s unanimous decision to refuse their application, it is a welcome reassurance that UKOG no longer has an interest in Arreton.”
Shame. Could have been the making of the Island.
Wonderful news for Islanders, This tin pot company, who shares have fallen by thousands of % once being 16p now around a tenth of a penny, would very likely not have the wherewithal to pay to clean up any underground polluted water should oil or drilling contaminates foul such.
Don’t fool yourselves that mega oil money would have come our way, all we would have had would be more ugliness in the most productive food growing site on the Island, and tankers, and heavy plant cluttering up the roads adding to the delays, frustration and odd odours in Arreton.
Those who think otherwise are either disgruntled share holders/landowners
No, plato, it would have been the ruination of the Island.
It’s a pity this strong “anti” decision making, doesn’t apply to the multiple applications for housing developments by money grabbing developers.
Good news for once.
Any skilled personal would have come from the mainland, and, as we see, low end positions on the Island can’t be filled now due to so many claiming universal credits and child tax credits, making it, for them, unnecessary to need to work more than 16 hours to claim ‘top ups’ so half a weeks work (if at all) for a full weeks pay and free rent and council tax, free dental care, school dinners and transport to school.
So we are where we are because the benefit system encourages people to work as short hours as can be, No wonder the world risks their lives to jump on the bandwagon
Moronic frame of references for your hobby-horse ramblings.This is a clear cut issue of keeping the islands natural pastoral beauty free from corporate plunder and pollution.Why you have to expand the narrative to include those disenfranchised from the current job market may have some relevance but there’s no real need to tack it onto this case of a gang of plunderers seeking shareholder enrichments to the considerable detriment of our lslands future.
For the same reasons those who have everything have always blamed those who have little or nothing.
You don’t need to feel guilty about the guy sleeping in a shop doorway or relying on charity and benefit payments if you convince yourself they are scum and its all their own fault.
if you need to assuage any guilt zog, you crack on – meanwhile the rest of us, will just seethe at the sponging that we see and how we are paying for the deadbeats that leech off society.
Meanwhile a gang of environment despoilers have gotten the middle finger and can take their drills and stick them where they belong.Interesting how this bogus demonisation of oil proceeds apace when the reality,not widely known,is there is massive abundances of the stuff worldwide.including the Gatwick region.It’s a myth that oil is finite.It regenerates.
Whilst the hypocrites carry on driving cars and using all the products that contain hydrocarbons every day. cambridge don – the nimby
I don the badge with honour.
Let’s get drilling that lovely black gold out if the ground. My diesel guzzler loves to burn that lovely oil.
Or,,,, I could buy an electric car, use that same oil to power the power stations that pumps out the same fumes, but at least I could kid myself my electric car is carbon neutral.