Anders Opedal, chief executive of Norwegian state-owned energy group Equinor, has warned that the company could stop investing in the UK if the government declines to give final approval to the Jackdaw and Rosebank fields. In an interview with the BBC, he said Equinor would look at other options if consent is refused, and called the decision “a political choice”.
The warning lands on a government still working out its stance on the North Sea. Labour went into the general election promising to ban new oil drilling in UK waters, but Prime Minister Andy Burnham said last month that he would take a pragmatic approach to oil and gas. He has tied continued production to a gradual move towards cleaner energy while the country deals with the climate crisis. Opedal framed the question more bluntly, asking whether the UK would remain investable in future, though he added that he hoped matters would not reach that point.
The Equinor chief pointed out that the North Sea industry began on the UK side and that the geology is the same on both sides of the UK and Norwegian boundary, with several fields straddling it. He used one project to show how long these developments take: its licence was awarded in 2001, oil was found in 2004 and the final investment decision came only in 2023. Jackdaw, a gas field, lies 150 miles east of Aberdeen, while Rosebank sits roughly 80 miles north-west of Shetland and is the largest untapped oil field in the North Sea. A photo caption on the report noted that Opedal also warned household bills were likely to stay high.
Opposition to the projects remains organised. Last month a group of 575 climate scientists, health professionals and conservationists wrote to Burnham and Energy Secretary Miatta Fahnbulleh, urging them to reject new drilling applications. Their letter argued that approval would breach the UK’s national and international climate commitments. Campaigners have also called on the Prime Minister to honour the spirit of Labour’s manifesto, and the decision is being treated as a major environmental test of his premiership.
Recent reports suggest the government is preparing to approve new North Sea drilling, starting with Jackdaw, while Fahnbulleh is expected to rule on Rosebank in the coming months. A spokeswoman for the Department for Energy Security and Net Zero declined to comment on speculation, saying “The North Sea remains a vital national asset.” She added that oil and gas would play a part in the energy system for decades alongside the shift to clean power, and that any ruling would weigh all relevant evidence, including environmental assessments and public representations.
