Uk Oil & Gas
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.
- Company typePublic
- Founded2004
- HeadquartersLondon, United Kingdom
- Headcount1–10
- GTM typeB2B
- OfferingServices
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.
Uk Oil & Gas firmographics
Firmographics- 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
Uk Oil & Gas industry classification
Industry- 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
Where Uk Oil & Gas is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices4 records
Markets served
Uk Oil & Gas business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure
Revenue model
- 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.
- Share Placing: UKOG raised GBP500,000 through a share placing to repay a GBP3 million funding facility and support hydrogen storage project development.
- 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.
- 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.
- 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
Uk Oil & Gas product offering
Product offeringCore 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
Companies that use Uk Oil & Gas
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles4 records
Uk Oil & Gas technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Uk Oil & Gas partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- Wales and West UtilitiescoreUK 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 TransmissioncoreUKOG 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 LimitedminorUKOG 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.
- SumitomominorUKOG 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 LimitedcoreUKOG'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 LtdminorIn 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
Uk Oil & Gas competitors and assessment
Company assessmentDirect 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
Uk Oil & Gas social profiles
Digital presenceUk Oil & Gas compliance and trust
Trust signalCompliance2 records
Uk Oil & Gas financial estimates
Financial estimateRevenue estimate
Valuation estimate
Uk Oil & Gas leadership team
Management profileNumber of profiles
Profiles5 records
Uk Oil & Gas subsidiaries and ownership
Company hierarchySubsidiaries3 records
Uk Oil & Gas funding detail
Funding detailFunding overview
Funding rounds3 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Uk Oil & Gas M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Uk Oil & Gas
What does Uk Oil & Gas do?
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.
Is Uk Oil & Gas a public or private company?
Uk Oil & Gas is a public company. It is classified as public and is currently operating.
When was Uk Oil & Gas founded?
Uk Oil & Gas was founded in 2004. It employs 1 to 10 people.
Where is Uk Oil & Gas based?
Uk Oil & Gas is headquartered in London, United Kingdom, in the Europe region.
How does Uk Oil & Gas make money?
Five revenue lines are on record. Retail Offer / Share Issuance is the primary driver. The others are share Placing, placing for Hydrogen Projects, petroleum Production (Legacy) and hydrogen Storage Infrastructure (Future).
Who are Uk Oil & Gas's main competitors?
Direct peers on record are Storengy, RWE, Uniper and INEOS Energy. Broad incumbents are Equinor, Ørsted and Shell. Emerging players are ITM Power and Harland & Wolff (formerly Infrastrata). National Grid is listed as an others.
Does Uk Oil & Gas have an API?
No public API is recorded for Uk Oil & Gas.
What industry is Uk Oil & Gas in?
Uk Oil & Gas's product category is Hydrogen Energy Storage Infrastructure. Its primary akta.pro industry code is EUAFAEAD, Underground Hydrogen Storage in Salt Caverns (Solution Mining, Cushion Gas, Cycling), with a secondary code of EUAFAEAK, Hydrogen Storage EPC, Engineering & Construction (Aboveground/Underground Facilities). Its NAICS code is 237120 and its SIC code is 1389.