The image is from the same source.
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Siccar Point Energy is in talks with the UK Government about the future of the field.
Shell pulled out of the Cambo oil field development.
Environmental groups have criticized the company for having a 30% stake in the field.
The economic case for investment in the North Atlantic project was not strong enough according to Shell.
Siccar Point Energy said it would continue talks with the UK government over the future of the field.
Shell said it had carried out a comprehensive screening before making a decision.
The economic case for investment in this project is not strong enough at the moment, as well as having the potential for delays.
Investment in oil and gas in the UK is critical to the country's energy security.
The North Sea has a critical role to play in the UK's energy mix, supporting the jobs and skills to enable a smooth transition to Britain's low-carbon future.
The Cambo oil field is located in the west of Shetland in water depths of between 1,050m and 1,100m.
Hundreds of millions of barrels of oil could be found there.
The Oil and Gas Authority could approve drilling as early as 2022.
Siccar Point Energy said the development is critical to the UK's economy and energy security.
Jonathan Roger said that they were disappointed at Shell's change of position, but remained confident about the qualities of a project.
It will create over 1,000 direct jobs as well as thousands more in the supply chain, and it will help ease the UK's transition to a low carbon future through the production of domestic oil.
We are in discussions with our contractors, supply chain and wider stakeholders to review options after Shell's decision.
Despite the predictions of environmentalists, the Cambo oil field isn't dead yet.
It's clear from reading between the lines that it's becoming too much of a liability for Shell.
The majority of the North Sea is not operated by big oil and gas companies.
The investors are playing an increasing role.
Someone else could still take Shell's share if the sums work as they are supposed to.
OGUK said investor confidence in oil and gas is essential.
Jenny Stanning said that this is a commercial decision between partners, but doesn't change the fact that the UK will need new oil and gas projects if we are to avoid increasing reliance on imports.
The beginning of the end for new oil and gas projects is what the climate campaign said after Shell's announcement.
The Cambo development has been made so toxic by people power that even oil giant Shell doesn't want to be associated with it.
The UK and Scottish Governments must now reject any future oil and gas developments in UK waters and plan a fair and fast transition for people working in this industry.
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The Scottish government says it is against its climate obligations.
The First Minister said last month that Cambo should not get the green light.
She had previously called for the development to be reexamined, but stopped short of opposing it.
She said that she doesn't think we can continue to give the go-ahead to new oil fields.
The decision on whether drilling is allowed in the UK rests with the authorities.
The UK government said that despite moves to renewable energy sources, there will continue to be ongoing demand for oil and gas.
The Scottish government does not agree with the idea of unlimited fossil fuels being taken out.
The UK Government has the power to act in this instance, and we continue to call on them to re-assess all approved oil licenses where drilling has not yet begun.
Royal Dutch Shell.
Oil and gas in the North Sea.
The oil and gas industry is large.
