Britain has given the go-ahead for the Oslo-listed energy company Equinor to develop the Rosebank oil and gas field in the North Sea, the government’s oil and gas regulator has announced.
Equinor holds a majority stake in Rosebank, which is one of the largest undeveloped oil and gas fields on the British continental shelf, and expects to produce 300m barrels of oil from the field in its lifetime.
“We have today approved the Rosebank field development plan, which allows the owners to proceed with their project,” the North Sea Transition Authority said in a statement.
“The FDP is awarded in accordance with our published guidance and taking net zero considerations into account throughout the project’s lifecycle.”
Environmental campaigners had called on the UK government to halt the development, arguing it contravenes Britain’s plan for a net zero economy.
Britain’s Ithaca Energy is Equinor’s partner on the project, which lies north-west of Shetland.
More details soon …