New fracking licence approval process will boost UK shale industry

New fracking licence approval process will boost UK

Emma Wild, Head of Upstream Advisory at KPMG, comments on the changes to the approval process for fracking licences announcement.

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Emma Wild, Head of Upstream Advisory at KPMG, comments on the changes to the approval process for fracking licences announced today:

“The Government’s announcement that ministers will ‘step in’ to avoid prolonged delays in approvals for shale gas and oil drilling, is perhaps their first serious attempt to actively promote the UK’s shale industry as a way to improve energy security.

“The lengthy process and delays of approvals to date have left the UK’s shale industry struggling to build maturity. The UK needs to drill significantly more wells to understand both the technical and commercial factors, and to properly evaluate the economics of full scale development."

 

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