Rosebank Oil Field Project Clears Major Regulatory Hurdle

The Rosebank oil and gas field project in the UK has made significant progress after the conclusion of the public consultation period. The Offshore Petroleum Regulator for Environment and Decommissioning (OPRED) has now considered the responses to the consultation, which was also conducted for the Jackdaw gas field last week.

The combined investment of £10.8 billion ($14.6 billion) in Rosebank and Jackdaw will be spent mostly in the UK, with around 75% of it allocated within the country's borders. The Rosebank field is expected to produce approximately 69,000 barrels of oil per day at its peak, which would account for about 10% of the anticipated UK Continental Shelf oil output.

Neil McCulloch, Chief Executive of Adura, said: “Rosebank is the largest undeveloped oil field in the UK North Sea, and today’s consultation close is a major step before a decision on a project that can deliver real economic benefits for the country.”