Rosebank oil field given go-ahead by regulator

7 months ago 97

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The controversial Rosebank offshore development off Shetland has been granted consent by regulators.

Located 80 miles of west of Shetland, Rosebank is the UK's largest untapped oil field and is estimated to contain 500 million barrels of oil.

Development and production consents have been given to owners Equinor and Ithaca Energy, following the acceptance of an environmental statement.

A decision on its development had been repeatedly delayed.

Last month 50 MPs and peers from all major parties wrote to then energy secretary Grant Shapps urging him to block Rosebank, arguing that it could produce 200m tonnes of carbon dioxide and that most of the cost of development would be shouldered by the taxpayer.

A spokesperson for the oil and gas regulator, the North Sea Transition Authority, said: "We have approved the Rosebank Field Development Plan which allows the owners to proceed with their project."

They added it had been awarded "in accordance with our published guidance and taking net zero considerations into account throughout the project's lifecycle".

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