By GB News (World News) | Created at 2026-10-06 17:00:46 | Updated at 2026-10-06 20:10:21
3 hours ago
Britain risks being viewed as un-investable if it refuses to approve a controversial oil field, the head of a Norwegian energy giant has warned.
Anders Opedal, CEO of Norwegian oil firm, Equinor, said a refusal on the North Atlantic's Rosebank would be a "major setback" and against the interests of Britain's energy security.
Rosebank is Britain's largest untapped oil field. But work there, and also at Jackdaw, a giant North Sea gas field, has been halted after legal challenges on climate grounds.
The decision as to whether work can resume now rests with the Government.
Industry leaders say the fields are crucial for the economy and energy security.
But climate campaigners say the environmental cost is too high. Foreign secretary, Ed Miliband, once described Rosebank as "climate vandalism".
Rosebank is operated by Adura, a company half-owned by Shell and half by Equinor.
Speaking at the Energy Intelligence Forum in London, Mr Opedal said: "Not approving Rosebank would be contradictory to energy security, to job creation.”
He said it would be a "major setback" and went on: “We would then ask, is the UK investable?"
He said that the licence for Rosebank was awarded more than 25 years ago, with oil discovered in 2004.
Britain approved Rosebank in 2023 and Jackdaw in 2022 under the previous Conservative government.
Labour has since banned new licences for exploration. But it had also promised that all existing licences would be honoured.
A Norwegian energy giant has called on Britain to approve new drilling
“The Keir Starmer government said the UK was open for business,” Mr Opedal said. “We’ve applied for consent twice. Adura has done everything it has been asked to do."
Much of the infrastructure needed for Jackdaw is already in place, meaning the gas field could begin production this winter if approved. Rosebank could deliver its first oil in the first half of 2027.
A decision on Rosebank and Jackdaw had been widely expected last month.
The Tories have accused Labour of delaying until after this week's Holborn and St Pancras by-election, in which Green Party leader, Zack Polanski, is standing.
But the Government insists no date had been fixed. It says that there has been a mass of documentation to go through to ensure the correct decision is reached.
Prime Minister Andy Burnham has remained tight-lipped on the futures of both fields, beyond pledging a "pragmatic" approach to oil and gas.
Energy Secretary Miatta Fahnbulleh, who will decide the fates of both fields, has also promised pragmatism.
She visited Aberdeen, the nerve centre of the UK's offshore industry, days after being promoted to the Cabinet.
The Government has said that the North Sea is “a vital national asset” and that oil and gas “will continue to play an important role in our energy system for decades to come” as the country transitions to green power.
