More than 100,000 jobs in the North Sea oil and gas sector are projected to disappear by 2050, representing an 80 percent decline from 2024 levels, according to Labour's own figures. This projection is based on data from the Department for Energy Security and Net Zero (DESNZ), which showed 136,675 North Sea oil jobs in 2024. By 2050, it is estimated that only 23,584 jobs will remain, a loss of 113,091 positions.
Labour's manifesto included a commitment to ban new oil and gas licenses and has maintained a windfall tax on the sector. DESNZ analysis suggests that each direct job in the industry supports an additional 4.4 jobs in the national supply chain. Projections indicate that by 2030, a total of 54,268 jobs could be lost, and by 2035, more than half the workforce, or 77,783 individuals, may have lost their jobs.
This outlook coincides with discussions about the UK potentially investing billions in infrastructure to import foreign gas. Ministers are reportedly considering acquiring a ship for liquefied gas transport or establishing a natural gas stockpile to ensure supply. These considerations have prompted questions about the government's decisions on the UK's domestic oil and gas fields.
The government is expected to decide next month on whether two Scottish fields, Rosebank and Jackdaw, can be developed. The Rosebank field is described as the largest untapped oil field in the North Sea, located approximately 80 miles north-west of Shetland. The Jackdaw field is situated about 150 miles east of Aberdeen. Reports suggest that the Jackdaw site may be approved, but not Rosebank.
Proponents of developing these fields argue that they could support over 3,500 jobs and generate more than £20 billion. However, the Labour party faces opposition from some of its backbenchers who advocate for stricter Net Zero goals, as well as from those in Scotland who wish to preserve the oil and gas industry. A spokesperson for DESNZ stated that oil and gas will continue to be an important part of the UK's energy system for decades during the transition to clean power.