Rosebank developer Equinor believes the project will require capital expenditure of £4.1 billion (US$4.9 billion) and create the equivalent of hundreds of jobs over its 25-year lifetime.

Coinciding with the submission of the project’s environmental statement last week, Equinor has commissioned a separate report outlining the scheme’s expected economic benefit to the UK.

It is due to be sanctioned early next year.

As well as the £4.1 billion development spending, a further £3.6 billion will be spent in operating expenses over the life of the field.