The chief executive of Norwegian energy firm Equinor has warned that the future of UK investment in the North Sea may be at risk if the government denies approval for two major oil and gas projects. Speaking at the Energy Intelligence Forum in London, Anders Opedal highlighted the significance of the Rosebank and Jackdaw fields, both operated by Adura, a joint venture between Equinor and Shell, emphasizing their importance for energy security and job creation.

Originally approved under the previous Conservative government—Jackdaw in 2022 and Rosebank in 2023—both projects have faced legal challenges that overturned the initial consents due to concerns over the environmental impact of emissions resulting from the production and consumption of the extracted oil and gas. Following court rulings, Adura was required to submit fresh applications, with public consultations on these proposals completing in August. However, the government has yet to announce a decision.

Equinor and Shell have invested billions into developing the fields, with Jackdaw reportedly 99.9 percent complete and poised to begin production imminently. At peak output, Jackdaw could supply approximately 6 percent of the UK’s gas production, which the companies argue is critical ahead of the winter period. Rosebank, located northwest of Shetland, is anticipated to start producing oil in the first half of next year and could contribute around 10 percent of the expected total UK North Sea oil output at its peak. A floating production storage and offloading vessel is already in place at the site, and drilling operations are underway.

Opedal remarked that refusal to approve Rosebank, in particular, would contradict the UK’s stated goals on energy security and job growth. He further questioned whether the UK could remain “investable” if such projects continue to face regulatory hurdles, highlighting the rigorous but uncertain approval process. Equinor also points to its broader energy investments in the UK, including offshore wind projects such as Dogger Bank, underscoring its commitment to the country’s energy sector.

The UK government has delayed its decision on Jackdaw, reportedly to avoid influencing political dynamics in the Holborn and St Pancras by-election, where opposition party leaders, including Green Party candidate Zack Polanski, are contesting the seat formerly held by Labour leader Sir Keir Starmer. This delay has drawn criticism from industry figures, who argue that timely approvals are essential for maintaining investor confidence.

The Department for Energy Security and Net Zero declined to comment on the ongoing deliberations but reiterated that the North Sea remains a vital national resource. Officials stressed that oil and gas would continue playing a role in the UK's energy mix for years to come, alongside efforts to transition to cleaner power sources. Any forthcoming decision will consider all relevant evidence received during the consultation process.