Uk Oil & Gas

What Uk Oil & Gas does

UK Oil & Gas PLC (AIM: UKOG) is a London-headquartered, publicly listed energy company transitioning from legacy onshore petroleum exploration and production to the development of large-scale underground salt cavern hydrogen storage infrastructure in the United Kingdom. Founded in 2004 and originally focused on Weald Basin assets in southern England, the company now operates primarily through wholly-owned subsidiary UK Energy Storage (UKEn), which is developing two flagship new-build salt cavern projects: the South Dorset facility at Portland Port with a maximum envisioned annual capacity of approximately 30 TWh (~1.01 billion standard cubic metres of working hydrogen volume), and the East Yorkshire project with an initial ~7 TWh capacity expandable to match Dorset. Both sites are designed to connect to the UK-wide Project Union hydrogen pipeline and sit within the South and East Coast/Teesside hydrogen demand clusters that together account for roughly 70% of National Grid's projected 2040 hydrogen demand. Engineering design for South Dorset was provided by DEEP.KBB GmbH.

Name

Uk Oil & Gas

Legal name

UK Oil & Gas PLC

Website

https://ukogplc.com

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

1–10 employees

Short description

UK Oil & Gas PLC is a London-based AIM-listed energy company transitioning from onshore petroleum production to developing large-scale underground salt cavern hydrogen storage projects in South Dorset and East Yorkshire for the UK hydrogen economy.

Ownership category

akta.pro rank

Product category

Hydrogen Energy Storage Infrastructure

NAICS

Oil and Gas Pipeline and Related Structures Construction (237120)

SIC

Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Underground Hydrogen Storage in Salt Caverns (Solution Mining, Cushion Gas, Cycling) (EUAFAEAD)

akta.pro secondary industries

Hydrogen Storage EPC, Engineering & Construction (Aboveground/Underground Facilities) (EUAFAEAK), Underground Storage (Salt Caverns, Depleted Reservoirs) (EUALAEAE), Hydrogen Storage & Compression Terminals (TLAGAKAH), Hydrogen Storage Operations, Maintenance & Asset Management Services (EUAFAEAL)

Keywords

• Hydrogen storage
• Salt cavern storage
• Energy infrastructure
• Clean energy storage
• Subsurface storage

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure

Revenue model

1. Retail Offer / Share Issuance: UKOG raised approximately £248,204 by issuing 496,408,000 new shares at 0.05 pence each to existing retail shareholders as part of a Retail Offer requiring shareholder approval on AIM.
2. Share Placing: UKOG raised GBP500,000 through a share placing to repay a GBP3 million funding facility and support hydrogen storage project development.
3. Placing for Hydrogen Projects: UKOG returned from suspension with a £3.5 million placing to fund hydrogen storage projects in Dorset and Yorkshire following an MOU with National Gas Transmission.
4. Petroleum Production (Legacy): UKOG previously generated revenue from petroleum production at Horse Hill, Avington, and Horndean fields. Revenue declined from £0.63 million to £0.31 million for H1 FY2025. The company has ceased Turkey petroleum activities and is transitioning out of oil and gas portfolio.
5. Hydrogen Storage Infrastructure (Future): UKOG's future revenue model is centered on hydrogen storage infrastructure development and operation. An independent report by Quod estimated the South Dorset project could contribute £2.3 billion annually to the UK economy. The company intends to make joint applications for government support through the UK's Hydrogen Transport and Storage Business Model.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels7 records

Core offering

UK Oil & Gas PLC is developing utility-scale underground salt cavern hydrogen storage projects in the UK through its wholly-owned subsidiary UK Energy Storage (UKEn). Its flagship South Dorset project is designed for maximum annual capacity of approximately 30 TWh and its East Yorkshire project targets an initial ~7 TWh capacity, both intended to connect to the UK-wide Project Union hydrogen pipeline. The company is actively transitioning out of legacy onshore UK petroleum exploration and production to focus on hydrogen storage infrastructure.

Product overview

UK Oil & Gas PLC operates as an energy company transitioning from petroleum exploration to hydrogen storage development. The company operates through its wholly-owned subsidiary UK Energy Storage (UKEn) which manages two major salt cavern hydrogen storage projects: the South Dorset project (up to 30 TWh capacity) and the East Yorkshire project (initial 7 TWh capacity). The company also retains legacy petroleum assets in southern England including Horse Hill, Avington, and Horndean, though it is committed to transitioning out of its oil and gas portfolio. Both hydrogen storage projects use new-build salt caverns, a proven technology viable at large scale only in Dorset, East Yorkshire, and Cheshire, and will connect to the UK-wide Project Union hydrogen pipeline.

Differentiator

Problem solved

Functional benefit

Products and services

• South Dorset Hydrogen Storage Project UK's largest underground salt cavern hydrogen storage project located at Portland Port in Dorset, with maximum annual capacity of ~30 TWh, designed to integrate into the national Project Union hydrogen pipeline and provide resilience to South hydrogen demand clusters including Fawley Refinery.
• East Yorkshire Hydrogen Storage Project Underground salt cavern hydrogen storage site in East Yorkshire with initial ~7 TWh annual capacity and expansion potential to match the Dorset site. Designed to serve East Coast hydrogen demand clusters and support decarbonisation of gas-to-power plants.
• Horse Hill Petroleum Asset (PEDL137) Onshore oil field in Surrey, England with 85.635% UKOG interest. Production voluntarily suspended in October 2024 pending retrospective planning consent redetermination by Surrey County Council.
• Horndean Petroleum Asset (PL211) Onshore oil field in stable production with UKOG holding a 10% interest. Legacy asset being rationalised as the company transitions to hydrogen storage.
• Avington Petroleum Asset (PEDL070) Onshore oil field in Hampshire, England currently shut in but planned for production reinstatement, with UKOG holding a 5% interest.

Quantifiable outcome

• £2.3 billion annual contribution to UK economy from South Dorset project
• +5 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Wales and West UtilitiescoreStrategic or Co-development Partner · 26 March 2026UK Oil & Gas subsidiary UK Energy Storage signed a memorandum of understanding (MOU) with Wales and West Utilities to develop a 100% hydrogen pipeline system (HyLine South West project) connecting hydrogen suppliers, offtakers, and storage in the South West region. The initiative aims to support regional hydrogen economy development, with plans to link WWU's proposed HyLine South West hydrogen pipeline with UKEn's South Dorset storage project. Both parties intend to make a joint application for government support through the UK's Hydrogen Transport and Storage Business Model.
• National Gas TransmissioncoreStrategic or Co-development Partner · 5 October 2025UKOG signed a memorandum of understanding with National Gas Transmission for hydrogen pipeline connections to planned onshore salt cavern storage facilities in Yorkshire and Dorset. This MOU supports the integration of UKOG's storage projects into the national hydrogen pipeline network (Project Union).
• Servatec Holdings LimitedminorOthers · 1 January 2025UKOG sold its subsidiary UKOG (GB) Limited to Servatec Holdings Limited for £400,000, as part of the company's orderly transition out of its oil and gas portfolio to focus on hydrogen storage.
• SumitomominorStrategic or Co-development Partner · 29 May 2024UKOG received a Letter of Support from Japanese corporation Sumitomo regarding the Portland Storage Project, indicating interest and/or support from a major Japanese industrial group.
• Portland Port LimitedcoreStrategic or Co-development Partner · 1 May 2022UKOG's wholly-owned subsidiary UK Energy Storage Ltd signed an Agreement for Lease with Portland Port Limited covering two sites at the former Royal Navy port in Dorset. The intent is to develop an integrated energy hub centered around hydrogen-ready gas storage and future green hydrogen generation capability, subject to new planning consent and development finance.
• Aladdin Middle East LtdminorStrategic or Co-development Partner · 1 January 2021In 2021, UKOG entered into an agreement with operator Aladdin Middle East Ltd to acquire a 50% interest in the 305 km² Resan Licence in the Republic of Turkey. Aladdin Middle East holds the remaining 50% as operator. This is a legacy petroleum partnership as UKOG transitions away from oil and gas.

Scale indicators15 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Storengy: Subsidiary of ENGIE and one of the largest underground gas storage operators in Europe. Storengy is actively developing salt cavern hydrogen storage projects across Europe including in the UK, directly competing with UKOG for hydrogen storage offtake and project finance in the same UK and European markets.
• RWE: German utility actively developing salt cavern hydrogen storage projects in Germany as part of its hydrogen core components, with comparable technology (salt cavern storage), comparable target customer base (industrial offtakers and grid operators), and similar revenue model (storage tariffs and capacity payments).
• Uniper: German energy company with deep salt cavern storage expertise (operating Krummhörn and other sites) and active hydrogen storage development pipeline in Germany. Directly comparable technology, customer base (industrial offtakers, gas-to-power) and project economics.
• INEOS Energy: Operates salt cavern storage at Grangemouth and is investing in UK and European hydrogen projects including carbon capture and storage. Directly comparable technology base (salt caverns), UK geographic footprint, and energy transition positioning.

Broad incumbents

• Equinor: Norwegian energy major with significant hydrogen and salt cavern storage ambitions in Northern Europe, alongside much broader oil, gas and renewable portfolio. Comparable end customer base and hydrogen value chain positioning, but much larger scale and broader scope.
• Ørsted: Danish renewable energy major with hydrogen storage development projects (notably the Greensand storage demonstration in Denmark) and broader clean energy portfolio. Comparable technology and end-customer focus but operates at much larger scale across renewables.
• Shell: Global energy major with significant hydrogen ambitions in the UK and Europe including hydrogen production, storage and pipeline projects. Comparable end-customer base and hydrogen economy exposure, but operates at vastly larger scale with much broader portfolio.

Emerging players

• ITM Power: UK-based electrolyser manufacturer and hydrogen project developer. Partial overlap with UKOG's hydrogen value chain focus (UK hydrogen production/storage), though ITM is primarily a technology manufacturer rather than storage infrastructure operator.
• Harland & Wolff (formerly Infrastrata): UK-based energy infrastructure developer (formerly Infrastrata) that originated the Islandmagee salt cavern gas storage project in Northern Ireland. Comparable UK hydrogen-adjacent storage focus and small-cap AIM-style profile, though currently navigating financial restructuring.

Others

• National Grid: UK system operator and Project Union hydrogen pipeline owner. Not a competitor but a critical infrastructure partner and customer - UKOG's projects are designed to connect into National Grid's Project Union hydrogen pipeline and Clean Power system, making National Grid the central counterparty and demand anchor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/UKOGlistedonAIM
• YouTubeyoutube.com/channel/UC-4v99XqtMBIJnqVR2BHMxA/videos
• LinkedInlinkedin.com/company/uk-oil-&-gas-investments-plc

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries3 records

Funding overview

Funding rounds3 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Uk Oil & Gas