Adura has moved a step closer to first production from its Jackdaw and Rosebank developments after submitting further information to regulators, with the company saying the two projects could add almost £29 billion to the UK economy.
The two North Sea projects are already at an advanced stage of development, with more than £3billion invested to date.
Jackdaw’s platform has been installed and is in the final stages of preparation ahead of start-up, while the Petrojarl Rosebank floating production vessel arrived west of Shetland last month.
According to Adura, the projects could generate £28.7 billion of gross value added over their producing lifetimes, with most of that economic benefit delivered in Scotland.
They are also expected to generate £1.4bn in tax revenues before the end of the current Parliament and £3.8bn by 2034.
At peak construction, the developments are expected to support 3,500 jobs, while 880 roles and 125 apprenticeships would be sustained during production.
Jackdaw and Rosebank are forecast to account for around 10% of UK gas production combined. Jackdaw alone could provide more than 6% of UK gas supply this winter – enough to heat 1.4 million homes – while Rosebank could contribute 4% of UK gas production and 10% of oil output from the UK Continental Shelf.
Neil McCulloch, chief executive of Adura, said: “The North Sea has helped to power Britain for more than half a century. In Jackdaw and Rosebank we have two advanced projects of national importance that can define the next chapter.
“Today we have submitted our responses to the regulator’s request for further information.
“We do so with great pride in the engineering effort – from Adura, our co-venturer in Rosebank, Ithaca Energy, and a truly world-class energy supply chain – that has positioned Jackdaw and Rosebank ready to make a major contribution to the energy security of Britain and our European neighbours.
“There is a material economic opportunity that has already been realised through multibillion pound investment to reach this point – and can be sustained throughout the production life of both fields, representing thousands of jobs and over £28 billion in added value to the UK economy.
“With timely approval of Jackdaw and Rosebank, Adura can help unlock significant benefits: the energy that Britain needs – at lower associated emissions and within existing carbon budgets – alongside a major economic advantage in the national interest.”