Cambo oil field development halted indefinitely

Days after Shell pulled out of the Cambo oil field development, Siccar Point Energy has now put the whole build on pause indefinitely. Citing time constraints as a big hindrance, could this finally be the end of the controversial project?

Who would’ve thought building a multi-million pound fossil fuel factory amidst a climate crisis would create so much controversy?

Uneconomic and ill advised plans to drill for oil deep under the sea at Cambo in the northwest of Shetland are once again under major threat. Merry Christmas everyone!

Following the pull-out from key investor Shell (and its 30% stake) just days ago, the whole project has now been put on ice indefinitely. The snowball effect appears to be well and truly underway and whether Cambo will go ahead at all remains uncertain.

BREAKING: Firm behind Cambo oil field have hit the pause button.
Boris Johnson now looks increasingly isolated 👀

Shell pulled out last week. @BorisJohnson when will you stop pursuing this oil fantasy and start work on a #JustTransition? #StopCambo 👉 https://t.co/at5TruqK1H pic.twitter.com/olkIBGp6CU

— Greenpeace UK (@GreenpeaceUK) December 10, 2021

Cambo oilfield under threat

Lamented since the day it left the drawing board in 2017, the plan to drill in the North Sea met its strongest opposition throughout the two weeks of COP26.

Campaigners demonstrated against Shell, Siccar Point Energy, and Boris (of course) on a daily basis bemoaning the blatant hypocrisy of making bold net zero commitments whilst investing in fossil fuels. While most were a tad ridiculous, the message appears to have gotten through.

The UK government was even facing legal action from Greenpeace over its decision to tick off blueprints in March – as well as staunch opposition from Scotland’s first minister Nichola Sturgeon, and the International Energy Agency.

Shell cited a lack of economic incentive as the reason it withdrew days ago, all but forcing the hand of Siccar Point Energy to halt progress. ‘Following Shell’s announcement last week, we are in a position where the Cambo project cannot progress on the originally planned timescale,’ said chief executive Jonathan Roger.

However, there is still the potential for another investor to join the party (should it want to kill its public relations stone dead). Still believing Cambo to be a ‘robust project that can play an important part of the UK’s energy security,’ Siccar Point Energy is now resigned to playing the waiting game.