To ask the Secretary of State for Energy Security and Net Zero, what assessment she has made of the level of potential risk that the development of the Rosebank oil field leads to stranded assets.
Answered on
24 October 2023
Stranded assets typically occur where a poor investment decision leads to infrastructure which is not fully used during its anticipated economic lifetime. In the case of new oil fields, this risk is borne by investors who are best placed to make these judgments.
The UK has a robust decommissioning regime for offshore oil and gas fields to ensure that any liabilities are the responsibility of developers and that taxpayers are protected.
Answered by
Department for Energy Security and Net Zero