Rosebank oil and gas field
Rosebank is an oil and gas field 130 kilometres off the coast of the Shetland Islands. Equinor acquired the operatorship in 2019 and has since then been working to optimise and mature a development solution for the field together with our partners.
Equinor believes the field can be developed as part of the UK Government North Sea Transition deal, bringing much needed energy security and investment in the UK while supporting the UKs net zero target. According to a socioeconomic study (see link below) based on data and analysis by Wood Mackenzie and Voar Energy, if sanctioned Rosebank is estimated to create GBP 8.1 billion of direct investment, of which GBP 6.3 billion is likely to be invested in UK-based businesses. Over the lifetime of the project, Rosebank will generate a total of GBP 24.1 billion of gross value add (GVA), comprised of direct, indirect and induced economic impacts.
Equinor together with our partners are working with the supply chain to ensure that a substantial part of investment comes to Scotland and the UK. A supplier day was held in Aberdeen in partnership with EIC in order to increase the number of local suppliers to tender.
Equinor is committed to a fair and just transition. In the UK, the oil and gas industry supports over 270,000 jobs, but the oil and gas sector is in decline. Rosebank is expected to contribute high skilled jobs with over 1,600 jobs estimated to be directly employed in the development of the project at the height of the construction phase in Q2 2025. Peak UK-based employment – consisting of nearly 1,200 direct, indirect, and induced jobs – is expected in Q3 2025. Across the lifetime of the field, Rosebank will support significant employment with an average of 450 UK-based full time direct, indirect and induced jobs. Equinor and the Rosebank project partners are working to progress the project to a final investment decision in 2023. Next steps will include obtaining consent for the project, which is subject to relevant regulatory approvals, including a public consultation on the environmental statement.
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. If you are interested in a career with Equinor, please check our careers pages.