INEOS Shale Ltd has been formally offered 21 Petroleum Exploration and Development Licences in the recent onshore licence award announced by DECC in December 2015.
This award, in addition to previously held licences, places INEOS as the leading acreage holder in the exploration and development of UK shale gas with over 1 million acres. As part of this award INEOS are looking to invest up to £640 million into the exploration of UK shale.
INEOS Shale aim to investigate and develop the resource through a process involving seismic activities, exploration wells, science and horizontal hydraulically fractured wells.