Anders Opedal, the boss of Norway’s state-run oil and gas firm Equinor, has cautioned that the UK risks becoming "uninvestable" for most energy companies if the government prevents the development of the Jackdaw and Rosebank oilfields in the North Sea.
Mr Opedal indicated that Equinor could withdraw from future UK projects if the two oil and gas fields, which are awaiting ministerial approval, are blocked on environmental grounds. He told the BBC that his firm would "have to take a hard view about it" if the government does not approve the drilling projects, which have been subject to a legal review for years.
The regulator responsible for the formal consultation has reportedly shared its recommendation for Jackdaw with the energy secretary, but is still considering its official suggestion for Rosebank. A spokeswoman for the Department of Energy Security and Net Zero (Desnz) stated that any decision would consider all relevant evidence, including environmental assessments and public representations.
Jackdaw, a gas field off Aberdeen, could produce up to six per cent of the UK’s domestic gas demands if approved. Rosebank, which is 90 per cent oil, is believed to hold up to 500 million barrels equivalent of oil and gas reserves.