Shell Offshore Inc, a Subsidiary of Royal Dutch Shell, announced that it has taken the final investment decision (FID) to invest in Whale, a deep-water development in the Gulf of Mexico, a press release issued by the company stated.
According to the statement, the Whale development is expected to reach the peak of production of about 100,000 barrels of oil equivalent per day (boe/d) and it has recoverable volume of 490 million boe.
On this occasion, Wael Sawan, Shell Upstream Director said “Whale is the latest demonstration of our focus on simplification, replication and capital projects with shorter cycle times to drive greater value from our advantaged positions.”
“We are building on more than 40 years of deep-water expertise to deliver competitive projects that yield high-margin barrels so that we are able to meet the energy demands of today while generating the cash required to help fund the development of the energy of the future,” Sawan added.
It is worth noting that the Whale development, owned by Shell Offshore with a stake of 60% as the operator and Chevron with a stake of 40%. It will be the Shell-operated deep-water development in the Gulf of Mexico to employ a simplified, cost-efficient host design.