‘Billion-barrel’ oilfield found in waters west of Shetland

A site in waters to the west of Shetland could contain more than one billion barrels of oil, according to industry analysts.

Hurricane Energy believes it now has the largest undeveloped oilfield on the UK continental shelf, and its announcement has been seen as a boost for the wider industry.

Brendan Long, an analyst based in our London office, said: “We have never seen a discovery well encounter an oil column of comparable scale. This is one of the most significant wells ever drilled in the UK.”

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