The UK’s North Sea Transition Authority (NSTA) has granted its development and production consent for the Rosebank oil and gas field, located in the British North Sea, north-west of the Shetland Islands. The go-ahead has been given by the regulator to Norway’s Equinor (operator, 80% share) and the UK’s Ithaca Energy (20%).
The Rosebank field’s total recoverable resources are estimated at over 300 mboe (42 Mt) for the two phases of the project (including 245 mboe for phase 1). Production from the field will be done through subsea wells tied back to a redeployed FPSO for processing and offloading. The production capacity of the FPSO will be around 70 kb/d (about 3.6 Mt/year). Output from the field is expected to start in 2026 or 2027.
In 2022, the UK produced nearly 35 Mt of crude oil and 38 bcm of natural gas. The country’s proved reserves stood at 200 bcm of gas and 272 Mt of crude oil and NGL at the end of 2022.
Interested in Global Energy Research?
Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.
This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.