Government approval for the Jackdaw development

Orcadian notes the Secretary of State for Energy Security and Net Zero’s approval of the Jackdaw development.

Steve Brown, Orcadian CEO, said:

“Well about time. We have escaped the madness of a fully developed gas field trapped in a web of conflicting regulation as winter approaches. Now for Rosebank, another well-advanced development that can underpin the UK’s energy security.

“Much has been made of the impact that approving production from Jackdaw and Rosebank has on the UK’s position as a climate leader. In my view, approving developments which aim to minimise carbon dioxide production does make the UK a climate leader. Exporting and increasing those emissions by shutting down our domestic industry – abandoning the innovative approaches the UK’s oil and gas professionals can bring to bear – that is climate vandalism.

“For Orcadian, we now know that the plan we have for Earlham, where we expect to capture and store 90% to 95% of Scope 1 and 3 emissions, will not founder on an ideological objection to gas or oil.

“We look forward to a reawakened industry that has been paralysed by waiting for the right moment to state the obvious.”

For further information on the Company please visit the Company’s website: https://orcadian.energy