Jackdaw gasfield set to be approved by ministers this month, sources say
Summary
UK ministers are expected to approve the Jackdaw gasfield in the North Sea soon, with the energy secretary recommending approval next week. A decision on the larger Rosebank oilfield is expected later this year, with plans to use some proceeds from it to fund clean energy projects.Key Facts
- The Jackdaw gasfield is located off the coast of Aberdeen in the North Sea.
- Energy Secretary Miatta Fahnbulleh is preparing to recommend approving Jackdaw soon.
- The Rosebank oilfield is the largest undeveloped field in UK waters, with an estimated 500 million barrels of oil or equivalent.
- Both projects could provide about 10% of the UK’s oil and gas output at their peak.
- Environmental approval was previously removed but companies Shell and Equinor have reapplied, including carbon emissions assessments.
- The UK government wants to balance oil and gas production with the transition to clean energy.
- There is discussion about using tax revenues from Rosebank to fund green energy projects through a national wealth fund.
- Some government officials are concerned about the impact of the green energy transition on workers in northeast Scotland.
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