UK authorities have granted the Cambo oil field a licence extension – with environmental campaigners claiming the move keeps the controversial project on “life support”.The licence for developing the area, which lies to the west of Shetland, had been due to expire on Thursday.But a spokeswoman for energy giant Shell, which co-owns the field with Siccar Point Energy, confirmed on Wednesday that the extension has been granted.Shell withdrew from the development in December and it stressed there is “no change to our position”.
But the company said the extension gives time to “evaluate all potential future options”. The spokeswoman said: “The North Sea Transition Authority has awarded Siccar Point Energy and Shell UK an extension to the underlying licences containing the Cambo field which were due to expire. “At this time there is no change to our position of December 2021, but the extension to the licences will allow time to evaluate all potential future options for the project.”In December, Shell, which has 30% equity in the proposed development, said it had concluded the economic case for investment was “not strong enough”.That decision came after the Scottish Government spoke out against the developing the field, with First Minister Nicola Sturgeon saying in November: “I don’t think that Cambo should get the green light.”Since then fears over the future of Russian oil have sent prices soaring, at the same time as consumers in the UK are facing rocketing energy bills.Environmental campaigners at Friends of the Earth Scotland argue the two-year licence extension is “simply dragging out the inevitable rejection of Cambo”.The group’s Caroline Rance said: “The UK Government is trying to keep this doomed oil field on life
Read more on dailyrecord.co.uk
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.