The trade body made the case in response to public consultations covering both projects. The Jackdaw consultation runs until August 10 while the Rosebank process closes on August 17.   Rosebank, located around 80 miles west of the Shetland Islands, represents £8.7bn ($11.6bn) of private investment and is the largest advanced UK energy project still awaiting regulatory approval. Jackdaw, situated about 150 miles east of Aberdeen, involves £2.1bn ($2.8bn) of investment, more than three-quarters of which is expected to be spent in the UK.      The projects were approved by the previous Conservative government in 2022 and 2023 but have since faced two years of uncertainty. Around £3bn ($4bn) has already been invested in preparations.

OEUK said the delays had weakened confidence in domestic oil and gas development and contributed to greater reliance on imports. The organisation argued that imported supplies can carry a carbon footprint up to four times higher than production from UK waters.   Together, Rosebank and Jackdaw are expected to generate £28.7bn ($38.2bn) in gross value added over their operating lives, support £9.1bn ($12.1bn) of supply-chain activity and deliver up to £3.8bn ($5.1bn) in tax revenue by 2034.      The projects could support more than 3,500 jobs during peak construction and sustain around 880 positions during production. They are also expected to create at least 125 apprenticeships. At peak output, the fields could account for 10% of UK domestic gas production and 10% of oil output. Rosebank has an expected operating life of 25 years, while Jackdaw is forecast to produce for 11 years.      “Permission for these two projects would help clear the log jam preventing development of other projects in the North Sea,” said OEUK chief executive David Whitehouse.      Whitehouse added that approval would help restore investor confidence and demonstrate that the revised regulatory process can move projects forward.     

OEUK also called for faster implementation of the Oil and Gas Revenue Levy, which it said was needed to unlock a wider pipeline of 111 offshore energy projects.