Shell (SHEL) and Equinor's (EQNR) Jackdaw gas field in the North Sea is expected to receive UK government approval for new drilling this month, news outlets reported Friday.
Approval for the project, off the coast of Aberdeen, may come as soon as mid-September, just before Parliament breaks for party conferences, the BBC reported, citing government and industry sources.
Energy Secretary Miatta Fahnbulleh is expected to approve Jackdaw with a decision on Rosebank, a separate oilfield, anticipated later, the Financial Times reported, citing people familiar with the matter
"We do not comment on speculation," a spokesperson from the government's Department for Energy Security and Net Zero said in an emailed statement to MT Newswires. "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 during the consultation process," the statement said.
Shell and Equinor didn't immediately respond to requests for comment.
Shell shares rose 0.8% in Friday trading, and Equinor fell 0.8%.
Price: 93.09, Change: +0.76, Percent Change: +0.82
