Environmental campaigners have opposed the plans.
The controversial Rosebank oil field has been granted development and production consent by the North Sea Transition Authority (NSTA).
The NSTA said consent has been given by the oil and gas regulator to owners Equinor and Ithaca Energy, following the acceptance of the Environmental Statement.
Environmental campaigners including Greta Thunberg had voiced strong opposition to the development.
The Rosebank field, which lies north-west of Shetland and contains up to 350 million barrels of oil, is currently one of the largest untapped discoveries in UK waters.
The North Sea Transition Authority has today granted development and production consent for the Rosebank field, north-west of Shetland. Read our statement in full: https://t.co/COjeFH54ej
— North Sea Transition Authority (@NSTAuthority) September 27, 2023
An NSTA spokesperson said: “We have today approved the Rosebank Field Development Plan which allows the owners to proceed with their project.
“The FDP is awarded in accordance with our published guidance and taking net zero considerations into account throughout the project’s lifecycle.”
Rosebank could produce 69,000 barrels of oil per day – about 8% of the UK’s projected daily output between 2026 and 2030 – and could also produce 44 million cubic feet of gas every day, according to Equinor, the Norwegian firm behind the project.
