North Sea Policy Under Strain

North Sea Policy Under Strain: UK Balances Energy Security, Tax Pressure, and Scope-3 Regulation Amid Production Decline - Quarter 3 2025

Case for tracking:

In Q3 2025, the North Sea was back in focus, with new discoveries but also mounting pressures. Equinor found more oil and gas near the Troll field, while Shell restarted Penguins using a new FPSO that extends field life and lowers emissions. At the same time, new UK rules on scope-3 emissions put projects like Jackdaw and Rosebank under closer scrutiny, reigniting debates over whether fresh licences should be issued.

High taxes and ongoing uncertainty hit producers hard, Harbour Energy even cut jobs, blaming what it called punitive levies, sparking fears of investment leaving the basin. Production stayed in long-term decline, already down more than 65% from its peak, with further drops likely without major new finds. The quarter captured a clear tension: some argue for maximising remaining fields to protect jobs and energy security, while others push for a managed phase-down to meet net-zero goals.

Volume of Mentions from Energy Considered’s Key Opinion Leaders:

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