Rosebank is a planned new oil field 80 miles off the Shetland coast in the North Atlantic. In September of 2023, the Conservative government approved the Norwegian oil giant, Equinor’s, application to start developing the field.1
At nearly 500m barrels,2, 8 Rosebank is the UK's biggest undeveloped oil and gas field – dwarfing the nearby Cambo oil field, which drew huge protests in 2021.
90% of Rosebank’s reserves are oil, not gas.2 Like 80% of all North Sea oil, the majority of Rosebank’s oil is expected to be put in tankers and exported for refining overseas, with only some sold back to the UK at market price.3 Rosebank’s oil will not lower UK fuel bills.
The UK public, however, would carry almost all the costs of developing Rosebank. Thanks to oil and gas subsidies introduced by the Conservative government, the public would hand over billions in tax breaks to Rosebank’s owners just to develop the field.4
Burning Rosebank’s oil and gas would produce over 200 million tonnes of CO2.5 To put this into context, the climate pollution from Rosebank’s reserves would be more than the combined annual CO2 emissions of all 28 low-income countries in the world, including Uganda, Ethiopia and Mozambique.6
In other words, emissions from this one UK field would be more than those created by the 700 million people in the world’s poorest countries in a year.7 These are among the same countries that have contributed the least to the climate crisis but are already experiencing the worst impacts of a warming planet.
Rosebank’s development would see a pipeline laid through a protected area of the North Sea which could also harm our seas and the diverse marine life they support: from delicate coral gardens to rare, deep sea sponges; from clams that live to hundreds of years old, to whales and dolphins.8
• 500m barrels of oil and gas, over 1km deep2, 8
• 90% of Rosebank is oil, likely to be exported2, 3
• Billions in tax breaks to Rosebank’s owners to develop the field4
• 200m+ tonnes of CO2 from burning Rosebank’s reserves,5 more than the annual CO2 emissions of all 28 low-income countries,6 home to 700m people;7 equivalent to running 56 coal-fired power stations for a year.9
Rosebank is the UK's biggest undeveloped oil and gas field with a total of nearly 500 million barrels of oil equivalent (mmboe).2, 8 The project would seek to extract almost three times the oil and gas of the nearby Cambo oil field.8,10 Rosebank’s operator, Equinor, has been granted permission to carry out phase one and phase two of the Rosebank project.11
To develop the field, Equinor plans to re-use a Floating Production Storage and Offloading vessel (FPSO), owned by Altera Infrastructure.8 Rosebank’s oil, which makes up 90% of its reserves,2 would be offloaded onto a shuttle tanker, with the small amount of gas exported through a pipeline through a Marine Protected Area.
Rosebank is a complex, high-cost and risky field to exploit. Its reserves lie over a kilometre below the surface – making it the deepest field ever developed on the UK continental shelf – and specific procedures would need to be put in place to deal with harsh Atlantic conditions in the region.
First discovered in 2004 by Chevron, Rosebank’s development has been delayed several times. Chevron cooled on the project a decade ago, declaring it uneconomic given the scale of the investment required.12 Likewise Equinor has delayed Rosebank’s development, first shifting its financial investment decision from 2019 to 2022,13 and then into 2023,14 after the government introduced the huge new subsidy in the windfall tax, which Equinor described as ‘helpful’.15 A decision from the government was expected in Q2 2023, however this was subject to continued delays.16 In September 2023 the company was granted approval by the Conservative government to proceed.
Rosebank’s timeline
• Aug 2022 Equinor submitted an environmental statement to the regulator in August, which was open to public consultation until September 2022.
• Dec 2022 & Feb 2023 Regulator asks Equinor further questions about the environmental impacts of Rosebank.
• Sept 2023 The Conservative government and the regulator granted approval for Equinor to develop Rosebank. Equinor and Ithaca Energy took their Final Investment Decision to progress Phase 1 of the Rosebank development.17
• Dec 2023 Uplift and Greenpeace UK filed legal challenges.
• Jun 2024 UK Supreme Court ruled in the case of Finch v Surrey County Council that Environmental Impact Assessments for fossil fuel projects must include assessment of the combustion emissions and their impacts.18
• Aug 2024 The Government and the regulator, the NSTA, agreed that the decisions to approve Rosebank were unlawful in light of Finch ruling.19
• Sept 2024 Greenpeace and Uplift are given permission by the court to proceed with the legal challenges on all grounds.20
• 2026-2028 ‘First oil’ is expected in late 2026, with most of the oil extracted in the next two years (around 70,000 barrels per day), after which it will plateau.
• 2033 Oil production from Rosebank will decline.
• 2051 Rosebank stops producing oil, a year after the UK has committed to be net zero, six years after Scotland’s deadline, and far beyond the point at which fossil fuel production needs to be phased out to limit dangerous climate change.
Rosebank will be developed by oil and gas giant Equinor, which is majority-owned by the Norwegian government. Equinor holds an 80% stake in the field, and Ithaca Energy (Cambo’s owner) holds the remaining 20% stake.
Despite spending millions greenwashing itself as a ‘broad-energy company’, less than 1% of Equinor’s energy came from renewable sources last year.21 Meanwhile Ithaca invests nothing in renewable energy.
There is also growing concern that profits from Rosebank could flow to Ithaca’s parent company, Delek, which has been listed by the UN amongst businesses that are enabling, facilitating and profiting from the construction and growth of Israeli settlements in Occupied Palestinian Territory.22 The Delek Group is expected to receive around £253 million in revenue from Rosebank.23
The UK public, however, would carry almost all the costs (around 90%) of developing Rosebank.24 Thanks to the former government’s oil and gas subsidies, the UK public would hand over billions in tax breaks to Equinor and its partners to develop the field4 while Equinor – which made £62 billion in profits globally in 2022,25 and £29 billion in 202326 – and its partners take the profit.
An estimated £1 billion of the £62 billion Equinor made in 2022 was made just from its UK businesses. However, that same year, Equinor paid just £6 million in UK taxes, according to its accounts, and it paid no tax on its UK oil and gas activities. 27
Equinor has also been shown to be benefiting from a little-known tax break, the Ringfence Expenditure Supplement (RFES) which was originally created to enable smaller oil companies to explore marginal fields in the North Sea. Equinor has used this tax break to secure £400 million in tax relief in just two years (2021 and 2022).27
If approved, Rosebank will make the UK poorer but the Norwegian state richer. Norway already has a national wealth fund worth trillions built from its oil and gas assets.
Despite billions in taxpayer subsidies, the UK public will see little benefit from Rosebank. Much of the oil produced in the UK is not suitable for our energy needs, and as such, nearly 80% of the UK-produced oil is exported.3 It is likely, then, that Rosebank’s oil will do little to provide UK consumers with fuel, and will definitely not bring energy costs down.
Burning Rosebank’s oil and gas reserves would produce over 200 million tonnes of CO2.5 To put this into context, the climate pollution from Rosebank’s reserves would be more than the combined annual CO2 emissions of all 28 low-income countries in the world, including Uganda, Ethiopia and Mozambique.6 In other words, emissions from this one UK field would be more than those created by the 700 million people in the world’s poorest countries in a year.7
Experts around the world are warning that opening up new oil and gas fields risks taking us beyond safe climate limits. The International Energy Agency, for example, has confirmed that there are no new oil and gas developments on a pathway to limit global temperature rise to within 1.5 degrees.28 The head of the UN said that continuing to invest in new drilling is "moral and economic madness” and has called on countries to end all new oil and gas exploration and production.29,30 Adding new reserves, like Rosebank, will push us closer to parts of our world becoming uninhabitable.
Equinor’s pledges to reduce the climate harm from Rosebank are little more than hot air. The oil and gas giant is touting plans to reduce production emissions from Rosebank, suggesting it plans to use electricity rather than gas to get the oil out of the ground.8 However, since electrification was not a condition of Rosebank's approval, there is little motivation for Equinor to follow through on that promise. Also, this is technically challenging, as Equinor admits, it comes with additional costs, which is slowing industry progress, and may end up taking electricity from the grid that would otherwise be used to power homes.
The one step Equinor has said it would undertake is making modifications to the FPSO vessel so that it could be powered by electricity in the future. This modification, however, would be entirely funded by UK taxpayers through an additional subsidy.31 Equinor has also concluded that Rosebank is not suitable for carbon capture and storage.8
Beyond its enormous climate impact, Rosebank’s development could also have consequences for our seas and protected marine life. The pipeline needed to transport the tiny gas reserves in Rosebank would cut through a specially protected area of the North Sea, the Faroe-Shetland Sponge Belt. Such industrial activity on the seabed could potentially harm this fragile ecosystem and the extraordinary creatures that live on it, such as quahogs, a type of clam that can live for hundreds of years, as well as the ocean floor’s delicate corals and rare, deep sea sponges, which have led to local fishermen dubbing the seabed “cheese-bottoms”.8
The project also poses a potential threat to protected species including a number of different species of whale, dolphin and seabirds, as well as having a possible impact on commercially significant species of fish, such as haddock.8 An oil spill from Rosebank’s operations could be devastating for marine ecosystems in the waters of the UK and neighbouring countries.
Uplift and Greenpeace have both filed judicial review challenges to the government’s decision to approve Rosebank, and both have been granted permission by the court to proceed on all grounds with a hearing on 12th to 15th of November 2024. Both cases will be heard in the Court of Session in Edinburgh.
The cases argue that the decisions of the then Secretary of State for Energy Security and Net Zero and the North Sea Transition Authority (NSTA) are unlawful because:
Both cases were sisted (paused) pending the decision of the UK Supreme Court in the case of Finch v Surrey County Council, which ruled in June 2024 that combustion emissions of the oil to be produced must be assessed as part of the approval process.18
Since then, the government has announced that it agrees the decision to approve Rosebank was unlawful.19 They have accepted the Supreme Court ruling and agree that Rosebank’s approval was unlawful since the decision was made without considering the impact of burning its oil and gas. It is now in the court's hands to declare whether or not the decision was unlawful.
• Dec 2023 Uplift and Greenpeace UK filed legal challenges.
• June 2024 UK Supreme Court decision in the Finch v Surrey County Council.18
• Aug 2024 The Government agrees that the decision to approve Rosebank was unlawful.19
• Sept 2024 Uplift and Greenpeace granted permission to proceed on all grounds.20
• 12th - 15th Nov 2024 Full hearing of the case in Edinburgh.
• Early 2025 Judgment of the court expected within 3 months of hearing.
Campaigners in the UK have proved that, with enough public pressure and scrutiny, major oil developments can be halted. In 2021, thousands came together and forced energy giant Shell to pull out of the Cambo oil field. Pressure is now mounting over Rosebank with a petition reaching over 150,000 signatures, and further support from 400 faith leaders, 200 organisations, 40 MEPs, 50 MPs from every major political party, and the King’s former environmental advisor, Jonathan Porritt.
Equinor is also being resisted around the world: from campaigners in Argentina, where the company is trying to lead the industry in opening a new fossil fuel frontier, to Canada and Equinor’s plans for the huge new Bay du Nord project, which was shelved for three years in May of this year after extensive campaigning.32 At home in Norway, campaigners succeeded in getting Equinor’s proposed Wisting field in Arctic waters postponed.33
There is now widespread public understanding in the UK that the soaring cost of fossil fuels is a huge contributing factor to the current cost-of-living crisis. A YouGov poll in February 2023 showed that 54% of people want the UK to get off oil and gas "as quickly as possible” by ramping up efforts to improve energy efficiency and developing lots more renewable energy, compared to just 10% who support the UK continuing to meet its energy demand primarily with oil and gas for as long as is necessary.34 The public are now awake to what is being done to our planet by profiteering oil and gas companies, and are demanding a reliable, affordable energy supply that doesn’t put the planet at risk.
Rosebank’s oil must stay in the ground for the sake of people, the oceans and the climate.
1. OPRED. Rosebank Field Development. Project Summary (2023).
2. Rystad Energy Resource Estimates.
3. National Statistics. Digest of UK Energy Statistics (DUKES): petroleum. (2022).
4. Equinor and partners originally reported £4.1 billion investment to develop the Rosebank field, which would have resulted in £3.75 billion tax relief. More recently, alongside the approval of the field, Equinor and Ithaca committed to investing $3.8 billion (£3.1 billion) in Phase 1 of the field, which will generate £2.8 billion in tax relief. Approximately half of this relief comes from the windfall tax loophole (Energy Profits Levy investment allowance), and this windfall tax is set to end in 2028, so any investments made in the field post-2028 (e.g. Phase 2) will be eligible for lower rates of tax relief.
5. Equinor’s Environmental Statement was assessed against a production scenario of around 500 million barrels of oil equivalent (Table 3-3, Page 69). If burnt, this would amount to approx. 200 million tonnes of CO2. Emissions calculated against conversion factors from OCI and Statistics Norway.
6. World Bank. CO2 emissions. (2020).
7. World Bank. Low income. (2021).
8. Equinor. Rosebank Environmental Statement. (2022).
9. EPA. Greenhouse Gas Equivalencies Calculator.
10. Cambo Environmental Statement. (2021).
11. Equinor is seeking approval for phase 1 and 2 of the Rosebank project (estimated reserves nearly 500 mmboe), while approvals sought for the Cambo field only cover phase 1 of that project (estimated reserves of 170 mmboe).
12. Reuters Staff. Chevron throws doubt on Rosebank North Sea development. Reuters (2013).
13. Equinor. Equinor sets new timeline for Rosebank project. (2019).
14. Penman, H. Equinor boss wants Rosebank FID before Offshore Europe, as activists threaten ‘tidal wave’ of action. Energy Voice, (2023)
15. Gosden, E. Equinor is counting on tax breaks with plans for North Sea oilfield. The Times, (2022).
16. Earl, N. Rosebank: UK’s biggest oil and gas field faces fresh delay amid regulator concerns over net zero goals. City AM, (2023)
17. Equinor. Rosebank Field to progress in the UK. (2023)
18. Friends of the Earth. Horse Hill: Historic win as Supreme Court upholds landmark climate case. (2024).
19. Gov.uk. Press release: Certainty for oil and gas industry in light of landmark ruling. (2024)
20. McKay, G. Rosebank legal challenge by environmental groups to be heard by court. The Herald (2024)
21. Greenpeace Norway. Equinor is still over 99 percent fossil-based. (2023)
22. OHCHR. Database Pursuant to Human Rights Council Resolution 31/36. (2023). Delek Group. International Ventures.
23. Hunter, R. IDF-linked firm to receive millions from Rosebank field in North Sea. The National (2024)
24. Savage, M. Britain faces £100m loss over drilling at biggest new oil field, says research. The Guardian (2022)
25. Sheppard, D. & Wilson, T. Equinor makes record $75bn profit during energy crisis. Financial Times (2023).
26. Equinor. Integrated Annual Report. (2023)
27. Bol, D. Oil giant behind Rosebank has secured £400m tax break from Treasury. The Scotsman (2024)
28. IEA. Net Zero Roadmap: A Global Pathway to Keep the 1.5 °C Goal in Reach (2023).
29. UNSG. Secretary-General’s statement on the IPCC Working Group 1 Report on the Physical Science Basis of the Sixth Assessment. (2021).
30. Guterres, A. Twitter. (2022).
31. Gosden, E. Taxpayers will fund wind farms for North Sea firms, say critics. The Times (2023).
32. Bay du Nord on hold for up to 3 years. CBC (2023).
33. Duff, R. Equinor postpones Wisting project investment in what protestors call ‘a victory for the climate’. Energy Voice. (2022)
34. YouGov Direct interviewed 2,193 people between 1-2 February 2023. Results were weighted to be representative of the GB population.
