Company behind failed Surrey oilfield project sells site at massive loss
UK Oil and Gas (UKOG) has sold the Horse Hill oil site for a fraction of its investment after a landmark supreme court ruling blocked expansion due to environmental concerns. The site's new owners are already seeking permission to resume drilling.
Why it matters
The case illustrates the legal and financial risks companies face when environmental impact assessments fail to account for downstream greenhouse gas emissions.
The supreme court reversed a 2019 decision to grant planning permission for expanding operations at the Horse Hill oil site near Horley. The supreme court reversed a 2019 decision to grant planning permission for expanding operations at the Horse Hill oil site near Horley. Fossil fuels Company behind failed Surrey oilfield project sells site at massive loss New owners apply for permission to extract oil in Horse Hill despite landmark ruling from supreme court in 2024
Prefer the Guardian on Google After years of trying to dig for oil in Surrey , the company behind the drilling project that was turned down in a landmark supreme court ruling has sold off the site for a fraction of the money it spent on it, and rebranded as a clean energy company.
Meanwhile, the new owners, who picked up the site for £1m, are applying, once again, for permission to dig.
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