The government have been called upon to approve all planned North Sea energy projects following the consent granted for the Jackdaw gas field.
Offshore Energies UK (OEUK) have said that there’s now opportunity to permit production at the more than 100 planned projects, including the Rosebank oil field.
The organisation claim that by doing this, the programmes will support thousands of jobs, strengthen the UK’s energy security and reduce reliance on imports.
David Whitehouse, Chief Executive of Offshore Energies UK, said: “The Prime Minister has said the question is not whether we use oil and gas, but where it comes from. The answer, surely, is our own North Sea, where it is produced under some of the highest environmental standards in the world, supporting UK jobs, creating value across the UK economy and sustaining the supply chain needed to deliver our energy future.”
The UK currently relies on imports for around 40% of its energy needs, with forecasts suggesting that it will still require more than 10 billion barrels of oil and gas between now and 2050.
OEUK claim that unlocking the wider pipeline could bring forward more than three billion barrels of additional domestic production, helping the country meet at least half of its oil and gas demand until 2050 from homegrown resources.
Ahead of next week’s budget, OEUK is calling for the introduction of the Treasury’s proposed Oil and Gas Revenue Levy (OGRL). This is a permanent windfall tax triggered during periods of high prices, which it says would provide stable and predictable framework.
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