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Shell makes FID on Gulf of Mexico PowerNap project

01/08/2019
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Oil major Shell has today taken the final investment decision (FID) for the PowerNap deepwater project situated in the US Gulf of Mexico. PowerNap will consist of a subsea tie-back to Shell’s Olympus production hub.
Shell makes FID on Gulf of Mexico PowerNap project
(Image via Shell).

The project is expected to start production in late 2021 and produce up to 35,000 barrels of oil equivalent per day (boe/d) at peak rates. It is anticipated to have a forward-looking break-even price of less than $35 per barrel and is currently estimated to contain more than 85 million barrels of oil equivalent recoverable resources.

Shell first discovered PowerNap in 2014. 100% developed by Shell, it is located in the south-central Mississippi Canyon area approximately 240 kilometres from New Orleans in 1,280 metres of water.

Commenting on the FID, Shell’s Upstream Director Wael Sawan, said:

“PowerNap further strengthens Shell’s leading position in the Gulf of Mexico. It demonstrates the depth of our portfolio of deepwater growth options, and our ability to fully leverage our existing infrastructure to unlock value.”

Shell has a leading deepwater portfolio with a large number of projects in the development funnel. Shell has also secured strong exploration acreage in the US Gulf of Mexico, Brazil, Nigeria and the Malaysian heartlands. At present Shell is the largest leaseholder and one of the leading offshore producers of oil and natural gas in the US Gulf of Mexico.

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Tags: Oil & Gas
Recent Comments
Please consider me for the above project for the deep water. Thanks , Mahbod M
Mahbod Merikhi, 04 August 2019
Estaría interesado en este proyecto. Considéreme para el proyecto de aguas profundas. Un saludo
Jaime, 08 August 2019
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Shell makes FID on Gulf of Mexico PowerNap project - Time to read 2 min
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