Work on Cambo oil field halted after Shell pull-out
Siccar Point Energy last week confirmed that its partner in the Cambo development Shell has taken the decision to not progress its investment at this stage.
Jonathan Roger, CEO of Siccar Point Energy said: “Cambo remains critical to the UK’s energy security and economy. Whilst we are disappointed at Shell’s change of position, we remain confident about the qualities of a project that will not only create over 1,000 direct jobs as well as thousands more in the supply chain, but also help ease the UK’s transition to a low carbon future through responsibly produced domestic oil instead of becoming even more dependent on imports, with a relatively higher carbon intensity. We will continue to engage with the UK Government and wider stakeholders on the future development of Cambo.”
The company has now reportedly said work on the project is being paused.
Information Source: Read the article
Oil and gas, press , | Energy, Climate, Renewable, Wind, Biomass, Sustainability, Oil Price, LPG, Solar,Electric
