UK's Energy Industry Seeks Swift Approvals for Jackdaw and Rosebank

Aberdeen & Grampian Chamber of Commerce (AGCC) has urged ministers to expedite approvals for the Jackdaw and Rosebank developments, citing the UK's energy industry's inability to withstand further uncertainty following BP's decision to sell its North Sea business.

The chamber submitted a consultation response to the Offshore Petroleum Regulator for Environment & Decommissioning (OPRED) emphasizing that environmental assessments of both projects should consider not only domestic production impacts but also the consequences of replacing UK energy with higher-emissions imports.

AGCC believes BP's move necessitates an urgent government response to restore investor confidence in the UK Continental Shelf, with AGCC's CEO Russell Borthwick stating: 'BP's announcement should serve as a wake-up call. It is another stark reminder of what prolonged policy uncertainty means in practice.'

Borthwick also highlighted that Jackdaw gas would be significantly less carbon-intensive than imported LNG, while Rosebank's production emissions are expected to be substantially below the global average for oil production.

According to AGCC, the two projects represent almost £29bn ($39bn) of economic value, 3,500 construction jobs, and sustain around 880 long-term operational roles, generating approximately £1.4bn ($1.9bn) in tax revenues during the current parliament.