Rosebank Gets Green Light For North Sea Oil Development

The Rosebank development, the first major new oilfield in the North Sea for many years, will go ahead after private investors and government both signalled final approval. Equinor and Ithaca Energy will invest around £3bn in the project which was finally given government go-ahead this morning. The project is the largest undeveloped field in the North Sea and is expected to lead around £8bn-worth of investment. Approval was received from the North Sea Transition Authority this morning – with the project passing environmental hurdles…