UK regulators approve plans for vast new North Sea oilfield

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UK regulators have approved plans for a vast new oilfield in the North Sea, in a controversial move sparking immediate objections from climate campaigners.

The North Sea Transition Authority on Wednesday gave the go-ahead to Norwegian company Equinor to develop its Rosebank oil and gas project, about 80 miles off the coast of Shetland.

The company estimates it will be able to produce about 300mn barrels of oil from the project over its lifetime.

The UK government said it welcomed the decision as the UK “still relies on oil and gas and this will continue over coming decades”.

However, Phil Richards, Greenpeace’s UK climate campaigner, said the decision was “carte blanche to fossil fuel companies to ruin the climate”.

Equinor has said it expects to start producing from the field in 2026-27.

This is a developing story.