This project economics story centers on Rosebank, where Adura said the public consultation closed on the £8.7 billion, or $11.8 billion, North Sea development. The field now awaits a decision from the UK government after the Offshore Petroleum Regulator for Environment and Decommissioning reviews consultation responses.
Adura is the joint venture formed by Shell and Equinor to operate their UK offshore assets. The company said Rosebank and the Jackdaw gas field represent £10.8 billion, or $14.6 billion, of anticipated investment, with more than three quarters of that spending planned for the UK. Adura estimates the projects will support 3,500 jobs at peak construction and 880 jobs during production.
Rosebank lies about 130 kilometers northwest of Shetland and is planned in two phases. Adura forecasts peak output of around 69,000 barrels of oil per day, equal to roughly 10 percent of anticipated UK Continental Shelf oil production. Subsea wells will connect to the redeployed Petrojarl Rosebank floating production, storage, and offloading vessel, also known as Petrojarl Knarr.
The approval process follows a January 2025 court ruling that found the prior Rosebank and Jackdaw approvals unlawful because the government did not consider emissions from burning the produced oil and gas. The regulator will assess the consultation responses before ministers make a final decision. Approval would move a large North Sea project closer to execution while giving offshore contractors a clearer view of future demand.