Union Jack Oil 'Delighted' By BEIS Statement on UK Shale Industry



The executive chairman of Union Jack Oil plc said Friday the company was “delighted” by the Secretary of State for Business, Energy and Industrial Strategy’s recently released written statement, which issued backing for the UK’s onshore shale gas industry and set out a series of actions to support the development of shale gas extraction in the UK.

“The statement not only highlights the importance of securing stable domestic gas supplies while minimizing harmful environmental impacts, but also the substantial economic benefits that the development of onshore gas production can bring to local communities and the UK as a whole,” Union Jack Oil’s David Bramhill said in a company statement.

“Being at the forefront of the UK onshore hydrocarbon industry, Union Jack is well positioned to benefit from this revised strategy and look forward to the exciting opportunities that await all of our stakeholders. The future remains very bright,” he added.

In a written statement to parliament released Thursday, Greg Clark MP announced a range of measures to facilitate timely decisions on shale exploration planning applications in England. Clark also confirmed that a shale environmental regulator would be set up “from the summer” and revealed plans to work with industry to see how community benefits could be improved.

Cuadrilla Resources, Ineos Shale and UKOOG all reacted positively to Clark’s statement.



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