Norwegian oil and gas producer Equinor and Ithaca Energy, a subsidiary of Israeli group Delek, will together invest $3.8 billion in developing the field situated in the North Sea off the coast of Scotland.
The North Sea Transition Authority, a UK oil and gas regulator, said in a statement that it had “granted development and production consent for the Rosebank field, north-west of Shetland”.“Rosebank stands as the largest undeveloped field in the UK,” said Gilad Myerson, executive chairman at Ithaca Energy.
“The Rosebank project will create thousands of jobs and contribute significantly to securing the UK’s energy needs for many years to come,” he added.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: