The Conservatives have called on the Prime Minister to stop “dithering” and approve the Jackdaw and Rosebank oil and gas fields.
The Tories also called on the government to lift the ban on new North Sea drilling licences, and to scrap the Energy Profits Levy – the so-called “windfall tax”.
They said the measures are “bleeding the North Sea of investment”, and that scrapping them could unlock 2.9 billion barrels and £165 billion in economic value, as well as protecting 200,000 skilled jobs.
The party was particularly critical of what it said were delays approving the Jackdaw gas field.
They said with the platform “99%” complete and with the regulator having completed its consultation in August, the field is “ready to go”.
They also claimed that in September, the Energy Secretary had been just days away from giving it the green light.
The Tories said that in September Energy Secretary Miatta Fahnbulleh had been just days away from giving Jackdaw the green light (Peter Byrne/PA)
PA Wire
However, they said the decision on whether to approve it then got pushed back because Labour were “frightened” of losing to the Greens in last week’s Holborn and St Pancras by-election.
Shadow energy secretary Andrew Bowie said: “Andy Burnham is dithering and delaying.
“He has sat on a gas field that is ready to go because he was frightened of the Green Party in Camden.
“The by-election is over and his excuse has gone with it, so he should approve Jackdaw immediately.”
The West Aberdeenshire and Kincardine MP said: “If the Prime Minister finally signs it off, nobody should mistake one gas field for a change of heart, because Labour’s ban on new licences and its punishing windfall tax are bleeding the North Sea of investment and the jobs that go with it.
“Approve Jackdaw, approve Rosebank, end the ban on licences, scrap the Energy Profits Levy.
“That is what a Conservative Government would do, and it is what this Prime Minister should do if he wants anyone to believe he is serious.”
The Conservatives pointed out more than £3 billion has already been invested in the controversial Jackdaw and Rosebank fields, and that together these would contribute £28.7 billion to the economy.
They also highlighted the scale of the untapped reserves across both fields.
They said Jackdaw could supply more than 6% of Britain’s gas by this winter and heat 1.4 million homes, while they described Rosebank as “the largest undeveloped oil and gas field in British waters” with 300 million barrels.
They warned that without new production, Britain risks importing 82% of its gas by 2035, leaving households exposed to every shock in the global market.
A Labour Party spokesperson said: “Just this weekend, Kemi Badenoch’s shadow chancellor slammed the mess the Tories left behind when they were kicked out of office.
“They left our economy in a dire state and completely failed to secure our energy supply over 14 long years.
“They should be apologising to the British people, not lecturing those who are now fixing the damage they left.”
A spokesperson for the Department for Energy Security and Net Zero said: “The North Sea remains a vital national asset and oil and gas will continue to play an important role in our energy system for decades to come – alongside transitioning to clean power to protect jobs and tackle the climate crisis.
“Any decision will take into account all relevant evidence, including environmental assessments and public representations received as part of the regulatory process.”