Scots oil field Rosebank given green light by regulators
dailyrecord.co.ukFollowing a number of delays, The Rosebank oil field has been granted development and production consent by the North Sea Transition Authority.The NSTA said consent has been given by the oil and gas regulator to owners Equinor and Ithaca Energy, following the acceptance of the Environmental Statement.The Rosebank field lies north-west of Shetland.
An NSTA spokesperson said: "We have today approved the Rosebank Field Development Plan which allows the owners to proceed with their project."The FDP is awarded in accordance with our published guidance and taking net zero considerations into account throughout the project's lifecycle."Ithaca said Rosebank would underpin £8.1 billion of direct investment in Britain, supporting up to 1,600 jobs during construction.
First production is expected in 2026-27.The field is expected to produce 300 million barrels of oil in its lifetime.Gilad Myerson, Executive Chairman, Ithaca Energy, commented: “We are delighted to announce the decision to move forward with the Rosebank development alongside Equinor. "Rosebank stands as the largest undeveloped field in the UK, and with the receipt of development consent from the NSTA, we are now poised to embark on a journey that will not only provide critically important domestic energy but also ignite substantial economic impact.
The Rosebank project will create thousands of jobs and contribute significantly to securing the UK’s energy needs for many years to come.”However, campaigners from Greenpeace have slammed the move, with Philip Evans saying: "Rishi Sunak has proven once and for all that he puts the profits of oil companies above everyday people.
Read more on dailyrecord.co.uk