French court upholds fracking ban
France’s constitutional court has rejected a challenge to a French law banning hydraulic fracturing (fracking) for exploration and production of France’s shale oil and gas. Commenting on the announcement, Glynn Williams, a partner at oil and gas services investor Epi-V, says: ‘France’s top court’s definitive “non” to shale and fracking on home turf will focus even more France’s biggest energy firms’ resources on opportunities “outre manche” into the UK. With the UK Treasury and Department of Energy and Climate Change (DECC) firmly promoting shale gas exploration in the UK, this adverse fracking ruling in France should catalyse overseas investment into UK unconventional oil and gas opportunities. Expect French and other international energy companies now to ramp up their plans for signing “farm-in” agreements with UK firms that already have licences to explore UK shale reserves.’
He concludes: ‘French energy giants are aware that for shale fracking opportunities they know that the UK has the advantage of a ready-made skills base from North Sea oil and gas to progress environmentally safe exploration techniques, which in turn could yield the energy output and skilled jobs creation the UK government is promoting from shale exploration.’
News Item details
Journal title: Petroleum Review
Keywords: Exploration and production - Government - Fracking - Unconventionals - policy
Subjects: Skills, education and training, Reserves, Jobs
