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Shell to proceed with deep-water Vito project

26/04/2018
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As the oil price continues its recovery, we’ve been greeted with more good news for the job market with Shell announcing this week that it has taken a final investment decision on the 300 million-barrel deep-water Vito project in the US Gulf of Mexico.
Shell's Vito project will be located around 150-miles south east of New Orleans in the Gulf of Mexico.
(Image via Shell).

The project has been conceived on the basis of a break-even point of less than $35 per barrel, so even if the oil price recovery diminishes, the project will remain viable. This is very much in line with Bob Dudley’s pronouncement that the industry should expect prices to remain ‘lower for longer’.

Shell began to redesign the Vito project in 2015, reducing cost estimates by more than 70% from the original concept. Vito’s cost savings are due to the simplified design, in addition to working collaboratively with vendors in a variety of areas including well design and completions, subsea, contracting, and topsides design. Located over four blocks in the Mississippi Canyon area of the Gulf of Mexico, the Vito development will consist of eight subsea wells with deep (18,000 feet) in-well gas lift.

“With a lower-cost development approach, the Vito project is a very competitive and attractive opportunity industry-wide,” said Andy Brown, Shell Upstream Director. “Our ability to advance this world-class resource is a testament to the skill and ingenuity of our development, engineering and drilling teams.”

Vito will be Shell’s 11th deep-water host in the Gulf of Mexico and is currently scheduled to begin producing oil in 2021. With global production progressing to more than 900,000 boe per day, Shell has deep-water projects and opportunities in the U.S., Brazil, Nigeria, Malaysia, and Mexico.

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Tags: Oil & Gas
Recent Comments
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Arun C S Nair, 27 April 2018
This just accelerate this planet's sad demise. We let all forms of wastes uselessly rot in the landfills, instead of using them to replace fossil energy. The irreversible degradation of our planet for human habitation is only exceeded by the corporate greed. Our families are dying out and we still don't want to learn.
Martin Mizera, 27 April 2018
Interested in Engineering positions.
Nimal Jayathilaka, 28 April 2018
looking opportunity as instrument technician in Oil & Gas
Eduardo Vacaro, 28 April 2018
Добыча газа и нефти не мешает уничтожать городские свалки. Нефть, газ, уголь, очень скоро смогут заявить о своей программе - Экологической безопасности окружающей среды и о безопасной переработке энергоносителей.
Леонид, 06 May 2018
Shell had the number one oil in the world no matter what it has it
Daniel kordzo kordorwu , 09 May 2018
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Shell to proceed with deep-water Vito project - Time to read 2 min
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