Onshore firm grows output

Caitlin Morrison
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UK ONSHORE producer Igas has reported a dip in revenue for the six months to 30 September, at £34.5m compared with £36.2m in the same period of last year.

Underlying profit before tax fell to £1.1m, from £6.1m, however production climbed from 2,704 barrels of oil equivalent per day (boepd) to 2,766 boepd.

Andrew Austin, Igas chief executive, said: “The potential of the untapped natural resources onshore offers an opportunity for Britain to in­crease its energy security.”