Shell Makes Large Deepwater Discovery In Gulf Of Mexico
Shell has made a large deepwater exploration discovery in the U.S. Gulf of Mexico, just 13 miles from its Appomattox project that is expected to start production by the end of 2019, the oil major said on Thursday. Shell expects its global deepwater production from already discovered and established areas to exceed 900,000 boe/d by 2020.
In the U.S. Gulf of Mexico, Shell announcedlast month the final investment decision for the Vito deepwater development, with a forward-looking, break-even price estimated to be less than $35 per barrel. Vito, which will be Shell’s 11th deepwater host in the Gulf of Mexico, is currently scheduled to start producing oil in 2021, with peak production of around 100,000 boe/d.
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