Might have their regrets. Good afternoon and welcome to the bbc news at one. The go ahead has been given to develop the uks largest untapped Oil And Gas Field in the north sea. Rosebank, which is 80 miles west of shetland, is expected to produce the equivalent of 300 Million Barrels of oil during the expected 25 year lifetime of the project. But the decision is controversial due to its impact on Climate Change last month, 50 mps and peers from all major parties raised concerns that the oil field could produce 200 Million Tonnes of carbon dioxide. Alexandra mackenzie reports. North sea oil is again at the centre of economic, political and climate debate. The long discussed rosebank Oil And Gas Field is run by the norwegian state energy firm. It says this will bring massive investment and jobs to the uk. And jobs to the uk. There is a continued and jobs to the uk. There is a continued need and jobs to the uk. There is a continued need for and jobs to the uk. There is a continued need for
Is expected to produce the equivalent of 300 Million Barrels of oil during the expected 25 year lifetime of the project. But the decision is controversial because of its impact on Climate Change last month 50 mps and peers from all major parties raised concerns the oil field could produce 200 Million Tonnes of carbon dioxide. Alexandra mackenzie reports. North sea oil is again at the centre of economic, political and climate debate. The long discussed rosebank Oil And Gas Field is run by the norwegian state energy firm, equinor. It says this will bring massive investment and jobs to the uk. There is a continued need for oil and gas. Through the entire transition and even after net zero, we will need oil and gas in our daily lives and to run society as we know it. Rosebank lies 80 miles west of shetland. Discovered in 2004, the field is in deep water of more than 1000 metres. Start up is expected late 2026 or early 2027. But there is much anger and frustration about this decision. Prote
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The field is located 80 miles west of shetland, and is thought to contain 500 Million Barrels of oil, which makes it the uks largest untapped oil field. But the plan has faced widespread criticism. Last month 50 mps and peers from all major parties raised concerns the oil field could produce 200m tonnes of carbon dioxide. Craig macmahon is Senior Vice President for research at the Energy Consultancy wood mackenzie. I asked him what this means for the uk as an oil producer. The scale of rosebank in a uk perspective is not insignificant. On a global perspective, its much, much smaller. So at peak production levels, maybe in about 2027, 2028, we would expect production between maybe 60,000 and 70,000 barrels per day. If you put that into perspective, i mean, currently oil demand sits at 101 Million Barrels per day on the global scale. So that is to say that rosebank will ultimately contribute significantly less than 0. 1 of supply. From the uk perspective, though, its slightly different.