Offshore Energies UK (OEUK) has called for urgent decisions on the Rosebank and Jackdaw developments, highlighting their role in supporting the UK’s national energy security.
The call comes as regulator OPRED continues its assessment of the projects and whether they meet all regulatory and environmental requirements.
Adura has recently submitted its response to the regulator’s request for further information. The regulator will, in turn, make a recommendation to the Secretary of State who will decide on whether to grant consent for the projects.
Together, the projects are expected to support £28.7 billion of economic activity, 3,500 jobs at peak construction, and significant tax revenues for the public purse – including £1.4 billion before the end of this Parliament and £3.8 billion before 2034.
They would also make a material contribution to UK energy supply, accounting for around 10 per cent of gas production at a time of geopolitical uncertainty. If consent is granted this summer, Jackdaw alone could provide more than 6 per cent of UK gas supply by this winter, enough to heat 1.4 million homes.
Consents for both projects are crucial given the complementary supply chain and the positive cumulative impact on UK economic growth and energy security.
OEUK chief executive David Whitehouse said:
'We cannot import energy security.
'UK oil and gas is energy we have control over, produced in our own waters under our own standards. It is a strategic asset for the country and one we should be using.
'In an uncertain world, imported energy relies on routes and shipping that can be disrupted or blocked. UK production cannot be held up by blockades in the same way. No other source of oil and gas is as secure as what we produce at home.
'Rosebank and Jackdaw are ready to deliver, supporting jobs, economic value, energy security, and delivered with lower emissions than imports.
'Without a functioning regulatory process that provides consents for both projects, a bottleneck is created, holding up billions of pounds of additional investment.
'The UK is exposed – importing over 40% of its energy in an increasingly volatile world. Expanding renewables is essential, but with oil and gas still supplying around 75% of our needs, relying on imports over our own North Sea resources makes little sense.
'Right now, the UK risks playing checkers while others are playing chess when it comes to energy policy. Other countries are making long-term decisions to secure supply, and we should be doing the same.
'With the latest information now with the regulator, an urgent decision recognising their national importance is needed.'
Source: OEUK
