Title : Shell Plans To Re-Develop The North Sea -- Peak Oil? What Peak Oil? Break-Even Price? $40/Bbl -- January 15 ,2018
link : Shell Plans To Re-Develop The North Sea -- Peak Oil? What Peak Oil? Break-Even Price? $40/Bbl -- January 15 ,2018
Shell Plans To Re-Develop The North Sea -- Peak Oil? What Peak Oil? Break-Even Price? $40/Bbl -- January 15 ,2018
From Bloomberg:Royal Dutch Shell Plc made one of its biggest commitments to the North Sea in 30 years, with plans to redevelop the Penguins oil and gas field.
The Anglo-Dutch oil major will build a floating production, storage and offloading vessel -- its first new manned installation in almost three decades -- to take output from eight wells it plans to drill. Peak production will be the equivalent of 45,000 barrels a day, with a break-even price of less than $40 a barrel, Shell said on Monday.
Penguins, a joint venture between Shell and Exxon Mobil Corp., is already operational after first being developed in 2002. Oil from the field -- about 150 miles (240 kilometers) northeast of the Shetland Islands -- will be transported by tanker to refineries, while the gas will be sent by a pipeline to the St. Fergus terminal in Scotland.
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