Plans for new oil field off Scots coast in doubt after concerns over climate target raised

dailyrecord.co.uk:

Plans for a massive new oil field off the Scottish coast have been thrown into doubt after a watchdog demanded answers on emissions targets.The proposed Rosebank project is the largest undeveloped oil field in the North Sea - and could yield more than 300 million barrels.

But environmental campaigners have warned the huge scheme, operated by Norwegian state-owned energy giant Equinor, is not compatible with climate goals.Located west of Shetland, the site is twice as large as the controversial Cambo oil field which was paused last year after a storm of protest.

Now, the UK’s North Sea regulator has warned Equinor it has “not demonstrated” how its digging plans at Rosebank meet the commitments of a pact signed by industry and the UK Government last year to slash emissions.In a letter this week, the Offshore Petroleum Regulator for Environment and Decommissioning (OPRED) demanded more information on the environmental impact of Rosebank.

The North Sea Transition Deal (NSTD), signed in 2021, committed the oil industry to a cut in production emissions of ten per cent in 2025, 25 per cent in 2027 and 50 per cent in 2030 “on the pathway to net-zero by 2050”.Writing to Equinor, OPRED said: “It has not been demonstrated how the proposed development helps meet the NSTD policies and commitments or Equinor Net Zero ambitions.” The regulator, writing on behalf of Tory minister Grant Shapps, told Equinor to "clarify" key questions, including “what fraction of UK Continental Shelf emissions the proposed development will contribute in those years that have NSTD commitments.”The intervention could hold up Equinor’s plans for Rosebank, as the company had hoped to sign off funding for the project early next year ahead of striking “first