| Details: | SECRETS FROM an extinct volcano could help extract an estimated 25 billion barrels of North Sea oil, according to UK energy minister Malcolm Wicks.
Naturally occurring carbon dioxide from the extinct volcano is already being used to force out oil in the United States. The technique has been pioneered by American oil and gas company Denbury Resources.
Malcolm Wicks has been visiting the company. He hopes the Enhanced Oil Recovery technique could be used to extract a further 17% of reserves from North Sea fields - now nearing the end of their life.
Stressing the importance of the North Sea's fossil fuels to the UK Mr Wicks said: "It's vital we recover what is left as sensitively as possible. This project uses pressurised carbon dioxide, which could also be captured from industrial plants. So it would be a plus for the environment too."
While in the United States, Malcolm Wicks also visited the Offshore Technology Conference in Houston, Texas. This was a chance to:
Highlight the UK's leading role in developing cleaner, sustainable energy
Raise awareness of UK Trade and Investment's new Energy Technology
Promote UK supply chain capability to the global market
Generate business interest in working with the UK
The minister also had meetings with global energy companies to discuss opportunities for North Sea exploration and investment.
For more, see the Denbury Resources website |
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