By Roland Gribben
An extinct volcano in the US may hold the key to extending the life of North Sea oilfields and squeezing an extra 17pc of untapped reserves out of them.   
Artist's impression of the volcano near Jackson City
Malcolm Wicks, the energy minister, is visiting the site near Jackson City in Mississippi to see how carbon dioxide is extracted deep underground before being piped 60 miles to force out oil from an old field.
With an estimated 25bn barrels of oil equivalent left to exploit in the North Sea, Mr Wicks said it would be increasingly challenging and would need innovative technologies to tap the remaining reserves.
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He added: "This project uses pressurised carbon dioxide which could also be captured from industrial plants so it would mean a plus for the environment too."
advertisementDenbury Resources, the biggest oil and gas operator in the state, has successfully exploited carbon injection techniques in Mississippi and elsewhere to recover significant quantities of reserves from mature reservoirs, and it believes the technology can be successfully developed in the North Sea.
The Government is anxious to see Britain break into the carbon market to squeeze oil and gas from declining North Sea fields and reduce emissions.
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