The UK’s controversial Rosebank oil and gas development has received the go-ahead, despite objections from climate groups.
Equinor ASA and partner Ithaca Energy Plc have now taken a final investment decision to proceed with the project, together investing $3.8 billion, following approval from the North Sea Transition Authority.
That’s despite objections from climate groups and dozens of European Union lawmakers, who this year urged the government to scrap plans for the deposit, the UK’s largest untapped oil field.
Equinor and Ithaca aren’t set to begin pumping oil and gas until at least 2026.
