UK could ‘unlock’ 100 more oil and gas projects, say North Sea bosses

One of the environmental groups which brought the legal challenges, Uplift, has described OEUK’s calls for support as a “fantasy” and says the North Sea is an “ultra-mature” basin with very little reserves left.

It said that instead of listening to the “self-interested demands” of the oil companies, Andy Burnham should instead be listening to people whose homes were destroyed in the summer’s wildfires.

Director Tessa Khan added: “The UK has burned most of its gas and what’s left is mostly oil, the vast majority of which is exported and sold on international markets. New drilling will do nothing to bring down bills and little for energy security.

“The science is clear that the world already has far more oil and gas than can ever be safely burned if we are to limit warming.”

Among the projects which could be unlocked is a second phase of the Rosebank development, the Cambo field and Clair South – all of which sit west of Shetland.

The UK Labour government has banned the issuing of new exploration licenses in UK waters.

But OEUK says most of the 111 projects identified are within existing licenced areas.

A UK government spokesperson said: “We’re giving the sector and its investors the long-term certainty to plan, invest and support jobs with plans to replace the EPL when it ends by 2030, or earlier if its price floor is triggered.

“We are also making sure the North Sea has a prosperous and sustainable future through record investment that helps deliver the next generation of skilled jobs while growing the clean energy industries of the future.”

Conservative energy spokesperson Andrew Bowie said refusing to approve the Jackdaw and Rosebank fields would be “madness”.

He said: “These figures from OEUK show that scrapping the Energy Profits Levy will protect jobs, safeguard our energy security and stabilise investment.

“Ultimately, this report sends a stark message that Labour’s absurd North Sea energy policies risk bringing a premature end to our oil and gas sector as we know it.”