Oil firm to ditch drill licence for Havant

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AN OIL company has confirmed it is ditching its licence to drill for oil in Havant due to ‘limited interest’.

Northern Petroleum has decided to relinquish its licence on a two-acre field off Hulbert Road, near Asda.

The licence was obtained five years ago and planning permission was gained from Hampshire County Council to build a testing rig.

But drilling never started.

Sarah Ward-Kaye, investor and public relations executive for Northern Petroleum, said: ‘Following a consultation with the joint venture partners, Northern decided to relinquish the PEDL256 and PEDL155 licences which contain the Havant prospect due to limited interest in exploring further on the licence.’

Ms Ward-Kaye said the company was still interested in oil at Markwells Wood, in Forestside, near Rowlands Castle.

She said: ‘Although Markwells Wood has the potential to be a commercial discovery, further appraisal work will need to be undertaken.’