A vast well of oil near Biscathorpe which was ‘overlooked’ by BP in 1987 could be revisited after a company confirmed plans to drill.
Egdon Resources UK Ltd have revealed they have identified an oil-bearing area of sand between one and two metres thick, 2,000 metres under land north east of the village, which could be home to up to 25 million barrels of oil.
The company say they have identified a suitable site to drill and will shortly be submitting a full planning application to Lincolnshire County Council, who confirmed that discussions with Egdon have taken place.
The find could dwarf the nearby Keddington oil field which was taken over by Egdon in 2007, which produces 50 barrels a day and is estimated to house around four million barrels.
Mark Abbott, managing director or Egdon, said: “Egdon are intending to drill an exploration well to test the structure some distance from the original well where we expect this sand to have thickened.
“The processes has been undertaken for the proposed ‘Biscathorpe-2’ well and we now believe we have a suitable site identified.
“As part of the process we also undertake pre-application consultation with stakeholders including the planning authority and local people.
“To avoid any doubt, the prospect at Biscathorpe is a conventional oil prospect similar to the significant number previously drilled in the region and I can confirm that no ‘hydraulic fracking’ would be undertaken as part of the proposed operations.”
Neil McBride, development manager for the county council, said: “We have had discussions with Egdon’s consultants but have not yet received a planning application.
“All applications are assessed against the National Planning Policy Framework and the Development Plan, which in this case is the Lincolnshire Minerals Local Plan, and are subject to a consultation and publicity process.
“The consultees in this case will include the district council, parish councils and the Environment Agency.”