Equinor and Ithaca Energy have announced a final investment decision (FID) on the first development phase of the Rosebank field in the UK Atlantic Margin. This stage of the project is estimated to cost US$3.8bn.
Rosebank, which is located approximately 130km off the coast of Shetland, has already been approved by the North Sea Transition Authority (NSTA).
It will featured subsea wells tied back to a floating production, storage and offloading (FPSO) unit. Start of operations is expected between 2026 and 2027.