The floating production storage and offloading (FPSO) unit for Rosebank, Petrojarl Knarr. Photo: Altera/Norske Shell
Here’s why Rosebank is part of the broader energy picture for Britain.
We acknowledge there is public debate about our Rosebank oil and gas field in the UK, and we respect the differing views. Nevertheless, we believe there are sound and rational reasons for developing Rosebank. Here, we explain how this project is part of our contribution to energy security and creating jobs for Britain. In the longer term, our ambition is to reduce CO2 emissions from production through electrification measures.
Refurbished FPSO saves emissions and is electrification-ready
7% of UK oil production
from first oil to 2030
About Equinor
Equinor is Britain’s leading energy provider, producing the oil and gas needed today, while developing renewable electricity for millions of homes tomorrow. We play a key role in Britain’s energy security, and have done so for 40 years. Now we’re committed to helping the UK achieve a smooth energy transition.
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Find out more about why Rosebank is so important to the UK's energy mix.
Frequently asked questions about Rosebank
Oil and gas will be needed to power the global economy for many years to come, including in independent scenarios of what would be needed in a Paris-aligned trajectory. As well as being primary sources of energy, oil and gas will be needed as input to low carbon fuels such as blue hydrogen for hard-to-abate sectors and as feedstocks for non-energy applications such as chemicals. To meet the needs of society, Equinor will continue to produce oil and gas for the foreseeable future.
For as long as we will need oil and gas in the UK, we will use our operational expertise in emissions management to produce oil and gas with the lowest possible emissions. We are also investing in renewables. Already today, more Equinor employees in the UK work with renewables, CCS and hydrogen than oil and gas, and for every £1 we plan to invest in the UK in oil and gas we aim to spend over £2 in renewables, CCS and hydrogen.
Equinor has an ambition to be a net-zero company by 2050. Climate is therefore part of our decision-making process.
As operator, Equinor is actively working with a broad range of stakeholders to ensure that Rosebank is developed in line with the North Sea Transition Deal (NSTD), UK net-zero targets and Equinor’s net-zero ambitions.
Approving Rosebank does not increase the UK’s projected emissions. The forecast emissions from Rosebank have already been included in emission projections published by the UK government and are accounted for in the UK’s carbon reduction strategy.
It’s our ambition for Rosebank to be one of the first fields in the UK to power operations with renewable electricity, reducing emissions by over 70%. The redeployed FPSO will be electrification-ready when arriving at the field. We are working closely with the other West of Shetland operators to develop and select a power solution for the area.
There are no subsidies for the UK offshore energy industry. Companies can offset the expenses of running their business against their profits. This applies not just to those involved in the exploration and production of oil and gas in UK waters but also shops, sole traders, and many other industries. These costs are known as Allowable Expenses. If business operating and capital costs increase, then profits and the tax due on them will decrease.
Governments also deploy investment allowances in a range of industries to target investment in key policy areas and this is also not a subsidy, with the investment funded in full by the company.
Oil will be sold and transported by upgraded shuttle tankers to customers’ refineries, supporting Europe’s energy security. Gas will be exported through the West of Shetland Pipeline (WOSP) system. This will ultimately end up in the UK grid, contributing to the UK’s energy security.
Rosebank is projected to create £8.5 billion of direct investment, of which £6.6 billion is likely to be invested in UK-based businesses. Rosebank is also expected to boost the UK’s wider economy by about £25 billion and create 2,000 UK jobs during its development phase. It will continue to support an average of 525 UK-based full-time jobs during the lifetime of the field.
The Rosebank project’s aim is to maximise the number of supply contracts with UK-based businesses. Equinor already partners with over 700 suppliers around the UK. Along with our partners we are actively seeking local supply chain contractors for Rosebank to ensure high local content.
Map of Rosebank field location north of Scotland
Facts about Rosebank
The Rosebank owners are: Equinor (80%) and Ithaca (20%)
The Rosebank field is located around 130 kilometres north-west of Shetland in approximately 1,100 metres of water
The Rosebank field will be developed in two phases with subsea wells tied back to a redeployed Floating Production Storage and Offloading vessel (FPSO)
Start-up from Phase 1 is planned in 2026-2027
Total recoverable resources from phases 1 and 2 are estimated at over 350 million barrels of oil equivalent
The Rosebank oil and gas field is being developed in accordance with the North Sea Transition deal, an agreement between the UK government and the offshore industry
The Rosebank development has been optimised to reduce carbon emissions and the FPSO will be prepared for future electrification.
With electrification, it is estimated that the Rosebank lifetime upstream CO2 intensity would decrease from around 12 kg to less than 3 kg CO2/boe.
Rosebank is estimated to create £8.5 billion of total direct investment, of which 77% is likely to be invested in UK-based businesses
It is expected to support around 2,000 jobs during the height of the construction phase
It will support an average of approx. 525 UK-based jobs throughout the lifetime of the field.
We will reduce Rosebank’s emissions through electrification
We are working with our partner Ithaca to develop Rosebank, where we intend to reduce emissions from production, through electrification of the FPSO.
Electrification of Rosebank will be a long-term investment that could drastically cut the carbon emissions caused by using the FPSO’s gas turbines for power.
Using electricity as a power source on Rosebank would result in a CO2 reduction equivalent to taking over one million combustion vehicles off the road for a year.
In recent years, we have seen how quickly concerns about international energy supplies can cause large fluctuations in energy prices.
That's why energy security is so important, and Equinor is helping deliver safe, secure and reliable sources of energy to the United Kingdom and Europe. In fact, we are the largest supplier of energy to Britain.
The Rosebank oil and gas field will be able to produce almost 7% of Britain’s oil leading up to 2030, which is a significant contribution from one field. Furthermore, when Rosebank has been electrified, CO2 emissions from production offshore will be reduced to a fraction of the world average.
Total field investment with 77% of this being spent in the UK
40 million CFD
Average daily gas production for first 10 years (cubic feet per day)
Providing energy security and supporting the UK’s net zero target
The field is being developed as part of the UK Government North Sea Transition deal, and will bring much needed energy security and investment in the UK while supporting the UK’s net zero target.
Supporting a managed energy transition
The field will be developed in two phases with a redeployed, refurbished Floating Production Storage and Offloading vessel (FPSO) tied to a subsea production system.
Start-up from Phase 1 is planned in 2026-2027. Oil will be transported to refineries by shuttle tankers, while gas will be exported through the West of Shetland Pipeline system.
The FPSO will be electrification-ready from day one, to allow it to be powered from shore when technology is qualified and matured, viability is confirmed and necessary regulatory consents are in place. This has the potential to reduce production emissions from Rosebank by over 70%. Before electrification, Rosebank will produce oil at around 12 kg CO2 per barrel, which will reduce to less than 3 kg CO2 after electrification. The North Sea average is currently approx. 20 kg CO2 per barrel*.
At peak production the annual gross value added (GVA) of the field is estimated to be £2.0 billion, equivalent to almost 1% of the Scottish GDP. Meanwhile, the development is projected to support over 2,000 jobs at its peak.
According to a socioeconomic study based on data and analysis from Wood Mackenzie and Voar Energy, Rosebank is estimated to create £ 8.5 billion of direct investment, of which £ 6.6 billion is likely to be invested in UK-based businesses. Over the lifetime of the project, Rosebank will generate a total of £ 25 billion of GVA, comprising direct, indirect and induced economic impacts.
Equinor, together with our partners, is working with the supply chain to ensure that a substantial portion of the overall investment comes to Scotland and the UK.
Equinor is committed to a just and fair transition. In the UK, the oil and gas industry supports over 200,000 jobs, but the oil and gas sector is in decline. Rosebank is expected to contribute highly skilled jobs, with over 2,000 UK-based jobs (direct, indirect, and induced) estimated to be directly generated by the development of the project at the height of the construction phase in Q2 2025. Across the lifetime of the field, Rosebank will support significant employment with an average of 525 UK-based full-time direct, indirect and induced jobs.
Equinor is also working to help develop the skills needed to continue oil and gas development but also to build the workforce of the future to work in our offshore wind farms and other low carbon solutions business.
Please note: Equinor acquired Suncor Energy UK in March 2023, with the transaction being closed on 30 June. Some of the documents below pre-date this transaction, and therefore make reference to Suncor Energy. Equinor now holds an 80% stake in Rosebank.
