A new oil and gas field development is projected to unlock Britain’s energy as both private investors and Rishi Sunak’s Government have given the green light to the project.
The Rosebank development was approved this morning by the North Sea Transition Authority (NSTA) having passed environmental hurdles set by regulators.
Located 80 miles north of the Shetland islands, is reported to contain up to 350 million barrels of oil
We are investing in our world-leading renewable energy but, as the independent Climate Change Committee recognise, we will need oil and gas as part of that mix on the path to net zero and so it makes sense to use our own supplies from North Sea fields such as Rosebank,” Energy Security Secretary Claire Coutinho said.
“The jobs and billions of pounds this is worth to our economy will enable us to have greater energy independence, making us more secure against tyrants like (Vladimir) Putin.
“We will continue to back the UK’s oil and gas industry to underpin our energy security, grow our economy and help us deliver the transition to cheaper, cleaner energy.”