Union Jack Oil PLC (AIM:UJO, OTCQB:UJOGF) part-owned Wressle field in Lincolnshire has received planning permission for requested additional development of the well site.
It will allow the drilling of two new wells along with the construction of gas processing facilities and the installation of an underground pipeline to connect the site to the local gas distribution network.
The Wressle field is located within licences PEDL180 and PEDL182, on the western margin of the Humber Basin in North Lincolnshire.
"I am delighted that the joint venture partnership has received the planning consent to continue development of Wressle, which will increase oil production and monetise the associated gas from the field, resulting in zero routine flaring at site,” said executive chair David Bramhill.
"This positive decision represents to Union Jack a significant domestic production growth opportunity at our robust and reliable flagship Wressle project and for the UK provides economic and environmental benefits compared to imports on which the UK is becoming increasingly reliant.
"I look forward to updating the market further as the Wressle partners progress the field development."
Union Jack Oil holds a 40% interest in the project alongside partners Egdon Resources (30%) and Europa (30%).