BP is forging ahead with with plans to develop a North Sea oil and gas field 126 miles east of Aberdeen.
The energy giant said the Murlach field could be producing oil and gas as soon as 2025.
It will be developed as a subsea tieback - connecting the field to an existing installation - so the impact of development is reduced.
The field contains approximately 20 million barrels of recoverable oil with some associated gas, approximately 5-10 billion cubic feet.
Oil would be exported via the Forties Pipeline System to Grangemouth, while gas would be delivered to Teesside via the CATS systems.
A bp spokesman said: "bp can confirm it has submitted the environmental statement for the Murlach project to the Offshore Petroleum Regulator for Environment and Decommissioning (OPRED) for their consideration, pending completion of a public consultation.
“Without pre-empting the outcome of this process, bp believes this development supports our strategy to produce hydrocarbons at a lower cost and with lower operational emissions through the use of existing infrastructure, in this case the bp-operated ETAP hub in the central North Sea.
“Value generated from continued North Sea oil and gas production supports bp’s ambitious energy transition growth plans in the UK, which include offshore wind, hydrogen production, CCUS and electric vehicle charging infrastructure. In fact, for every £1 we make here in the UK this decade, we plan to spend £2.
“Developments like Murlach also support the UK Government’s energy security strategy which places a focus on the important role of domestic, lower carbon oil and gas as the world transitions to lower carbon forms of energy.”
The move has been welcomed by industry chiefs.
OEUK chief executive Dierdre Michie OBE said: “With the current geopolitical climate, it’s more crucial than ever that we as a nation continue to maximise our domestic supply as a matter of national security.
“Today oil and gas meets 75% of our total energy needs. Many oil and gas companies are already investing in the cleaner energies of the future but while that demand is there, it makes sense to produce as much of our own needs as we can, and as cleanly as we can.
“Last year the UK had to import 62% of its gas, and this figure could reach 80% by 2030. Therefore, fields like Murlach remain vitally important in protecting the UK’s future energy security whilst meeting our climate targets.”