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Concerns over the UK’s energy security have intensified amid rising energy prices, especially as domestic production is projected to decline by half by 2035. Presently, the UK depends heavily on Norway, which supplies approximately 50% of its natural gas requirements. Meanwhile, the Norwegian government continues to authorize new licences for oil and gas extraction in its North Sea territory.
According to Equinor, production levels in Norway are expected to remain stable until around the mid-2030s. When discussing ongoing projects, Equinor’s CEO, Opedal, expressed optimism about a “pragmatic approach to oil and gas” that Prime Minister Andy Burnham has advocated for, suggesting that both major energy projects would receive approval despite the current uncertainty—which Opedal described as “an uncomfortable position to be in.”
Opedal emphasized that the potential exists for the UK to increase its own oil and gas production, explaining, “It’s a political choice.” He noted that the North Sea oil and gas industry originally developed on the UK side, with shared geological features crossing the border between Norway and the UK. This connection highlights the possibility for the UK to expand its extraction activities in the region.
The Rosebank field, the UK’s largest undeveloped oil and gas site, is situated in the North Atlantic nearly 80 miles northwest of the Shetland Islands, and estimates suggest it contains up to 500 million barrels of oil and gas. Opedal outlined the timeline for the site’s development, explaining that the exploration licence was granted in 2001, the discovery occurred in 2004, and the final investment decision was reached only in 2023. Both Rosebank and the Jackdaw project, operated by Adura—a joint venture between Equinor and Shell, with Aberdeen firm Ithaca owning 20% of Rosebank—were initially approved under the previous Conservative government. However, their progress was halted by a Scottish court ruling following environmental groups’ successful claims that the initial consent failed to adequately assess climate impacts. After the conclusion of a public consultation in August, Energy Secretary Miatta Fahnbulleh now faces the final decision on these projects. Adura has indicated that if approval is granted soon, Jackdaw could begin supplying gas to UK households by this winter, as construction is reportedly “99% complete.
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