Offshore staff
LONDON — Offshore Energies UK (OEUK) is supporting Equinor’s plans to progress development of the deepwater Rosebank oil and gas field west of Shetland.
Plans suggest that at peak, the field—around 81 miles (130 km) northwest of the Shetland Islands in 3,500 ft water depth—could produce 69,000 bbl/d of oil, equivalent to 8% of the UK’s entire output between 2026 and 2030.
It would also deliver about 44 MMcf/d in its first 10 years.
If approved, the project could create £8.1 billion ($9.77 billion) of direct investment of which £6.3 billion ($7.6 billion) could go to UK-based companies. More than 1,600 people could be employed at the height of construction in second-quarter 2025.
Equinor said its next steps would include obtaining consent for the project, subject to relevant regulatory approvals, including a public consultation on the environmental statement. The company is looking to redeploy an FPSO from Shell’s recently shut down Knarr Field in the Norwegian sector.
Chevron discovered Rosebank in 2004, naming it after a Scottish malt whiskey. The oil and gas are at a subsurface depth of 3,500 ft.
This could be among the first UK offshore field developments powered from the outset by renewable electricity with reduced reliance on gas-powered generators lowering CO2 emissions from production.
According to OEUK, options to power the development include offshore windfarms and running power cables to shore.
And the project could help establish the infrastructure necessary for electrification of all oil and gas operations west of Shetland.
A socioeconomic study by Wood Mackenzie and Voar Energy, commissioned by Equinor, has estimated that Rosebank could generate £24 billion ($28.94 billion) of gross added value over its lifetime (direct, indirect and induced economic benefits).
08.05.2022
