UK Oil & Gas PLC is shifting from petroleum exploration to hydrogen storage opportunities, as per its unaudited results for the six-month period that ended on March 31, 2025, a statement released in September 2025, confirmed.
It is worth noting that the company is advancing projects across South Dorset as well as East Yorkshire, which are aimed at delivering storage facilities pertaining to salt cavern hydrogen. Apparently, trading in the UKOG shares is anticipated to resume after the publication of its yearly as well as interim reports.
The South Dorset project of the UKOG, which happens to be designed by DEEP.KBB GmbH, would have in it 24 caverns that offer up to 1.01 billion standard cubic meters when it comes to the working hydrogen volume. This goes on to represent a 12% growth over the original Portland Port project of the company, with hydrogen withdrawal along with the injection rates offering almost 2.9 times the yearly cycling capacity.
A report from Quod, which is an independent planning consultancy, confirmed that the South Dorset project could also contribute £2.3 billion per year to the UK economy throughout its operational life and at the same time also create around 7,200 direct as well as supply chain jobs at the time of construction.
It is worth noting that the company has implemented memorandums of understanding with the Portland Port to go ahead and pursue hydrogen storage opportunities jointly, which also includes the generation of 1 GW of green hydrogen by way of import and electrolysis.
UKOG has also gone on to cease the petroleum exploration activities within Turkey, therefore transferring half of its interest in the Resan license to Aladdin Middle East, the joint venture partner. In addition to this, the company has also relinquished PEDL234, which happens to contain the Loxley and Broadford Bridge discoveries, and has sold UKOG (GB) Limited, its subsidiary, to Servatec Holdings Limited for £400,000.
Interestingly, Horse Hill oil production got temporarily shut down after a Supreme Court ruling that required the end-use carbon combustion emissions to be included within the environmental impact evaluation. UKOG, as of now, happens to be working with Surrey County Council when it comes to a new retrospective planning submission.
Apparently, for the six months that ended March 31, 2025, UKOG went on to report a retained loss of almost £1.37 million, vis-à-vis £1.43 million in the same period of 2024. Notably, the revenue decreased from £0.63 million to £0.31 million because of lower volumes of production.
