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Equinor warns UK risks becoming uninvestable if new oil and gas fields are blocked
Overview
Oil giant Equinor has warned that the UK risks being viewed as uninvestable if new oil and gas fields at Rosebank and Jackdaw are not approved. Anders Opedal, boss of the Norwegian state oil company, stated that Equinor would have to take a hard view on future UK investments if drilling is rejected. The final decision on the projects rests with Energy Secretary Miatta Fahnbulleh following legal delays and a public consultation.
Key points
- Equinor warned it may shun further UK investments if Rosebank and Jackdaw are not approved.
- Anders Opedal stated the company would have to take a hard view on future UK projects if drilling is rejected.
- Rosebank is the UK's largest undeveloped oil and gas field, holding up to 500 million barrels.
- Jackdaw construction is 99% complete and could deliver gas by winter if approved soon.
- The final decision on the projects rests with Energy Secretary Miatta Fahnbulleh.
- Environmental groups like Uplift oppose the projects, arguing they will not lower energy bills.