Two oil explorers have been given planning consent to drill for oil in Lincolnshire. New oil firm Union Jack and AIM listed Europa Oil & Gas have both won approval to drill exploratory boreholes.
North Lincolnshire Council gave the consent for the Wressle prospect which is near Scunthorpe. Both firms expect to drill towards the end of the year.
There could be 2.1 million barrels of oil in the Wressle underground reserves, according to Europa’s chief executive Hugh Mackay.