Government reports estimate that 7.9 billion barrels of oil reserves and resources remain under the North Sea, along with 560 billion cubic meters of gas. The North Sea fossil fuel power plant has been the subject of controversy in the past, with the proposed Cambo oil field facing a backlash from climate activists who have argued that the project will thwart the UK’s promise of zero pledges. After experiencing strong reaction from protesters to climate change, the development of the oil field was put on hold when Shell left. However, Dr Bridget Woodman, senior lecturer in the Deputy Director’s Energy Policy Group at the University of Exeter, believes the new energy strategy could motivate Shell to reopen the oil field and continue to grow. Speaking to Express.co.uk, he said: “Yes, I believe that [Energy Security Strategy] will restart the Cambo project.
“Shell left last year for economic rather than political or climatic reasons and now that the price of oil has risen, as well as the government’s outspoken support for more offshore development, I’m almost certain they will repeat the project and move on. .
“The strategy is not to remove Campos from the ground, but to ensure that even more offshore oil and gas is developed beyond it.” This will be a blow to Ms. Sturgeon, as she has continued her opposition to the oil field, arguing that renewable energy is the key to reducing the continent’s dependence on Russian gas. READ MORE: Sturgeon humiliated: Plan to block drilling in the North Sea canceled Meanwhile, Professor Neil Strachan, Director of the UCL Bartlett School of Environment Energy & Resources, told Express.co.uk: “I do not think the return of the Cambo field is very likely. “Developing a new oil field requires a lot of start-up capital and investors need to be confident that high prices and strong demand for oil will exist not only for the next two years but for the next 20 years. “And a significant development of a new oil field is not compatible with the UK’s zero-sum strategy.” Dr Woodman warned that the resumption of the Campo oil field would raise questions about the UK fulfilling its legal zero commitments. He continued: “More offshore development inevitably brings higher emissions of carbon dioxide and other greenhouse gases, so the encouragement demonstrates an unforgivable lack of commitment to the security of our climate and future generations.”
“Combined with the reckless commitment to a huge expansion of the nuclear sector, where cost overruns and project delays are endemic, our climate commitments are seriously threatened.”