Equinor Chief Executive Anders Opedal warned that the United Kingdom risks becoming uninvestable if regulators fail to approve the Rosebank and Jackdaw North Sea energy projects, amid political delays tied to an upcoming by-election.
A Norwegian energy executive has issued a blunt warning to British officials over the future of the nation’s energy sector. Anders Opedal, the chief executive of Equinor, told the Energy Intelligence Forum in London that refusing permission to drill at two of the region’s largest untapped fields would deal a major blow to foreign confidence.
The warning centers on two major developments in the North Sea: the Jackdaw gas field and the Rosebank oil field. Both projects are co-owned by Equinor and Shell through their joint venture, Adura, with Aberdeen-based firm Ithaca holding a 20% stake in Rosebank.
Equinor Warns of Investment Flight Over Delayed Approvals
Speaking to industry leaders in London, the Equinor chief executive questioned the long-term viability of putting capital into British energy infrastructure if current regulatory hurdles persist.
Failure to clear these two fields would represent a significant setback for the country, according to the head of the Norwegian state oil and gas company. Campaigners have urged authorities to halt further drilling in the North Sea altogether, adding further pressure to an already fraught regulatory debate.
The Keir Starmer government said the UK was open for business. We’ve applied for consent twice … Adura has done everything it has been asked to do. The UK has one of the most rigorous approval processes in the world.
Anders Opedal, Chief Executive of Equinor, via BBC
The projects were initially granted development consent under the previous Conservative administration—Jackdaw in 2022 and Rosebank in 2023. However, legal challenges from environmental campaigners resulted in a Scottish court ruling that overturned those approvals, citing a failure to properly consider climate impacts. Fresh applications were subsequently required in 2025.
Political Stalls and the Holborn and St Pancras By-Election
Regulatory decisions for both sites have faced political friction. The UK government postponed its decision on the Jackdaw gas field until after the by-election in Holborn and St Pancras, where Green Party leader Zack Polanski is contesting the seat formerly held by the former prime minister. Meanwhile, the final verdict on Rosebank rests with Energy Secretary Miatta Fahnbulleh, who has previously criticized North Sea drilling as short-sighted.
The debate has intensified within the ruling Labour party, where a significant bloc of backbench MPs opposes new fossil fuel extraction. Complicating matters further, Mr Polanski pressed Foreign Secretary Ed Miliband over Ithaca Energy’s ownership ties. Ithaca is controlled by Israel’s Delek Group, an entity listed by the United Nations as supporting the existence of settlements in occupied Palestinian territories, though Delek has indicated plans to challenge that designation.
Falling North Sea Production Risks Domestic Energy Security
Industry stakeholders emphasize that delaying these assets risks domestic energy security as North Sea production forecasts show output dropping significantly by the middle of the next decade. Mr Opedal noted that the UK shares identical offshore geology with Norway, where state licensing for exploration continues.
Rising energy costs have revived discussions surrounding national self-reliance, with domestic production projected to halve by 2035. The UK already depends on Norway for half of its total gas supply, while Norwegian authorities consistently issue fresh exploration permits in their own territorial waters.
- Jackdaw: Construction is reported to be 99% complete, meaning the field could begin supplying gas to UK households this winter if given immediate clearance. At peak capacity, it can heat more than 1.4 million homes.
- Rosebank: Located approximately 80 miles north-west of the Shetland Islands, it represents the UK’s largest untapped oil reserve, holding an estimated 300-500 million barrels of oil and gas. It is expected to produce roughly 69,000 barrels per day.
- Investment Scale: The two projects combined account for a £10.8 billion capital commitment, designed to generate sustained tax revenues and employment.
With international energy markets facing pressure from geopolitical conflicts abroad, energy experts warn that domestic shortfalls could lead to price spikes. Whether the current administration proceeds with these ventures depends on the forthcoming ministerial clearances.
