The United Kingdom risks becoming unattractive to energy investors if it blocks development of two North Sea oil and gas fields, according to the head of Norway’s state-controlled energy company Equinor. CEO Anders Opedal said the company may reconsider future investments in the UK if government ministers do not approve the Jackdaw and Rosebank projects, which have been delayed by ongoing legal reviews.

Speaking in an interview, Opedal highlighted the prolonged uncertainty surrounding the two fields, noting that the lack of government approval on environmental grounds could prompt Equinor to adopt a “hard view” regarding its commitment to the UK sector. He emphasized that failure to greenlight the developments would mark a “major setback” for the industry, potentially leading Equinor and other firms to question whether the UK remains a viable and attractive destination for oil and gas investments.

Both Jackdaw and Rosebank are considered significant assets in the UK Continental Shelf, with the projects awaiting final consent amid increased scrutiny on environmental impacts and commitments to net zero targets. The UK government has yet to make a definitive decision, as it balances economic growth and energy security against environmental concerns and the transition to renewable energy.

The comments come amid broader debates over the future of North Sea oil and gas production and the role of fossil fuels in the UK’s energy mix. While some industry leaders view continued investment as essential for energy security and economic stability, environmental groups and certain policymakers advocate for tighter restrictions and a shift toward cleaner alternatives.

Equinor’s warnings underline the challenges facing the UK government as it navigates competing priorities in energy policy. The outcome of the approval process for Jackdaw and Rosebank could influence investor confidence and the country’s ability to attract future oil and gas projects in a rapidly evolving global energy landscape.