Energy · North Sea oil & gas · 21 October 2026
Jackdaw gas production approved and £2 billion fund announced
The Department for Energy Security and Net Zero has approved gas production at the Jackdaw field. The Chancellor has also announced a new £2 billion Energy Wealth Fund. Gas supply is expected to begin by the end of the current month.
The Department for Energy Security and Net Zero has approved the regulator's consent for gas production at the Jackdaw field. The Energy Secretary agreed to allow the project to proceed. At the same time, the Chancellor announced the establishment of a new Energy Wealth Fund with an initial £2 billion injection.
Figures published with the decision show that the Jackdaw project is expected to increase domestic gas production by around 6% at its peak. The field has a stated lifespan of 11 years. According to the department, the project is estimated to add £2.9 billion to the UK economy. The Energy Wealth Fund aims to reinvest oil and gas revenues into renewable and low carbon energy projects.
The Energy Secretary assessed that the Jackdaw project will not prevent the UK from meeting its net-zero target by 2050. Gas supply from the field is expected to begin by the end of the current month. The announcement does not specify the exact date for the first delivery of gas or the specific renewable projects that will receive the initial funding.
Written by StreetOwl from Department for Energy Security and Net Zero’s own announcement. It was drafted by StreetOwl’s own model, every figure and quotation was checked by code against the announcement, and it was read and approved by Michael Rossi before it went up. It says what was announced, not what anyone should do about it.
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