Shell Invests in the Vito Development in the Gulf of Mexico On April 24, 2018, Shell announced the final investment decision for Vito, a deep-water development in the U.S. Gulf of Mexico with a forward-looking, break-even price estimated to be less than $35 per barrel*. T he developers of a C$40-billion ($31-billion) project to export Canadian natural gas are taking on a bold strategy: build now and worry about buyers later. FID was targeted for 2020, with start-up slated for 2025. The FPU is being made for Shell’s Whale field development, with the agreement coming ahead of a final investment decision to be made next year by Shell for the full project. If you continue we'll assume that you are happy to receive all cookies on the Argus Media website. Our editors and experts share insights and analyses about energy and commodity markets worldwide. Whale FPU will take advantage of synergies from ongoing Shell Vito FPU project secured last year Topside and hull will be delivered in 2022 from Tuas Boulevard Yard as a single integrated structure, facilitated by the yard’s 30,000-tonne lifting capacity “Whale builds on Shell’s successful, nearly 40-year history in the deep waters of the Gulf of Mexico and is particularly special in that it offers a combination of materiality, scope and proximity to existing infrastructure,” said Marc Gerrits, Executive Vice-President Exploration for Royal Dutch Shell. “With our state-of-the-art … Shell intends to delay its final investment decision to 2021 on developing the Whale discovery in the deep-water US Gulf of Mexico, a person with knowledge of the situation told Upstream. Shell … Energy Transfer (ET) and Shell U.S. LNG on Monday signed a Project Framework Agreement (Pfa) that provides the basis to further develop a large-scale liquefied natural gas export facility in Lake Charles, Louisiana. Royal Dutch Shell (RDS.A -1.5%) says it is delaying a final investment decision on the Whale oil field in the deepwater Gulf of Mexico from this year to 2021. A dead gray whale that washed ashore in Seattle in 2010 was discovered to have additional The Pfa is another step in the partners path to determining a final investment decision (Fid). Whale has a breakeven of over $40/bbl. The source said some work on the project continued. Oil major Shell is working on making a Final Investment Decision in 2020 on its large deepwater Gulf of Mexico oil find named Whale. Now uncertain economic conditions have forced Shell to defer FID for the project to 2021. The operator intends to replicate nearly … SEMBCORP Marine Rigs & Floaters has won a contract from Shell Offshore to build and integrate the topside and hull of a floating production unit (FPU) in the Gulf of Mexico. Shell is now thinking of postponing the FID for the development of the Whale discovery in the Gulf of Mexico, Reuters’ source said. Royal Dutch Shell and Japanese Mitsui Oil Exploration have each taken the final investment decision to execute phase one of the Kaikias deepwater project in the U.S. Gulf of Mexico. Sembcorp also noted the contract award precedes a FID for the full Whale project, which Shell anticipates making in 2020. Shell made the Whale discovery in February 2018. The operator intends to replicate nearly 80% … The initial FID timeframe was to … by Mark Lammey 01/11/2019, 6:35 am Updated: 01/11/2019, 7:28 am The development plan originally envisaged linking the field to the existing Shearwater platform by 2024. It is currently scheduled to begin producing oil in 2021. The Vito development has an estimated, recoverable resource of 300 million boe. Chevron Corp’s CVX has made a final investment decision (FID) on its Gulf of Mexico (GoM) Anchor project. The Whale project is operated by Shell (60%) and co-owned by Chevron U.S.A. Inc. (40%). Siccar, the operator of the project, blamed the decision on "the unprecedented worldwide macroeconomic dislocation resulting from Covid-19." Shell postponed final investment decisions (FID) on two planned projects in the US Gulf of Mexico (GoM) and North Sea, coming after a record decline in crude oil futures driven by the COVID-19 pandemic. It was discovered in the Alaminos Canyon Block 772, adjacent to the Shell-operated Silvertip field and approximately 10-miles from the Shell-operated Perdido platform. A source said Shell had delayed a final investment decision (FID) to 2021 on whether to develop its Whale discovery. The Whale field is considered to be one of the biggest oil field discoveries by the Royal Dutch Shell in the recent past. Shell has delayed a final investment decision (FID) on the Whale oil field in the deepwater US Gulf of Mexico from this year to 2021. Meanwhile, Shell has contracted Sembcorp Marine Rigs & Floaters Pte. Royal Dutch Shell plc’s RDS.A Australia-focused joint-venture (JV) recently entered into a final investment decision (FID) to advance with the first phase of its Surat Gas Project in Queensland for addressing the energy crisis in that country.The JV Arrow Energy is co-owned by Shell and PetroChina Company Limited PTR. Shell has not yet released any estimates for the Whale’s recoverable resources, but two industry sources close to the exploration project put the figure at up to 700 million barrels of oil. 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