The UK just licensed a massive oil and gas field in the North Sea

The UK Government greenlighted a massive oil extraction field on its North coast, just as international experts established that countries should not approve new oil projects for humanity to reach its climate goals.

According to estimations by CNN and CNBC, the field should produce between 300 and 500 million oil barrels, which will take years to extract.

Furthermore, Politico claims the beneficiary companies expect to extract around 69,000 barrels of oil and 44 million cubic feet of gas daily at its peak.

Operator Equinor and British energy company Ithaca Energy will hold the license to exploit the field. They said the project will work in two stages and start extraction in 2026 or 2027.

According to #StopRosebank campaign activists, the oil field will emit 200 million metric tons of CO2 during the project. The group pleads others help to fight the project.

On the other hand, the Government claims that new oil projects with UK reserves will help families navigate the cost of living crisis with lower energy prices.

Still, according to experts cited by The Guardian, the UK exports 75% of the oil it extracts, and the barrels will sell at international market price, so it will not have a relevant impact on energy prices.

The approval of the project has sparked anger among British environmental groups. Caroline Lucas, the only Green member of the Parliament, told Politico that the move was "morally obscene."

The main concern is that the country is stepping away from its commitment to reach net zero emissions (removing at least the same amount of CO2 it produces) by 2050.

Government authorities, including the Energy Secretary Claire Coutinho, said the project does not conflict with the goal. However, the announcement is not the first time it has shied away from climate promises this year.

The Prime Minister caused a criticism storm just a few days before when he announced that the country would water down some of its short-term climate goals.

The first was that the country would push the limit for selling new gas and diesel-running cars from 2030 to 2035. Used vehicles are exempted from the policy.

The second was that the Government would weaken the plan to phase out the installation of gas heating in homes and reduce energy-efficiency requirements for landlords.

That U-turn piled over a July announcement related to the Rosebank project: The Government pledged to max out reserves, granting hundreds of new oil and gas licenses in the North Sea.

Internal sources from Sunak's party cited by The Guardian claim that the moves attempt to establish a more evident political difference with the opposition Labour Party ahead of an election year.

The party reacted to the announcement by saying it does not support it, as it pledged not to grant new oil and gas licenses but is not planning on removing the already approved ones.