Shell Starts Production at Kaikias at $30 Break-Even Price

Royal Dutch Shell has kicked off production at its deepwater Kaikias development in the U.S. Gulf of Mexico at a break-even price of less than $30 per barrel. Shell Offshore, a subsidiary of Royal Dutch Shell, announced Thursday the early start of production at the first phase of Kaikias, which has an estimated peak production of 40,000 barrels of oil equivalent per day … [Read more...]

Shell Makes Large Deepwater Discovery in U.S. Gulf of Mexico

Royal Dutch Shell has announced a large deepwater discovery in the U.S. Gulf of Mexico approximately 170 miles off the coast of Louisiana. Shell Offshore Inc. said Thursday the exploration discovery was made in the Norphlet geologic play at the 100 percent Shell-controlled Dover well. The well was drilled in Mississippi Canyon Block 612, located approximately 170 miles … [Read more...]

Sembcorp Marine Awarded Vito FPU Contract from Shell

A subsidiary of Singaporean shipbuilder Sembcorp Marine has been awarded a contract from Shell Offshore to construct and integrate the hull, topsides and living quarters of a new semi-submersible Floating Production Unit destined for Shell's Vito project in the U.S. Gulf of Mexico. The Vito FPU will feature a 4-column semi-submersible hull with topsides weighing 9,200 … [Read more...]

Don’t Neglect to Pay the Middleman: How Shell and Eni Ended Up On Trial

By Libby George and Shadia Nasralla LONDON, May 21 (Reuters) - Seven years ago, two middlemen launched civil lawsuits to seek payment for helping arrange a $1.3 billion oil deal in Nigeria. Now, nine current and former executives or contractors from Italy's Eni and British-Dutch giant Royal Dutch Shell , including ENI Chief Executive Claudio Descalzi, have been accused … [Read more...]

As Oil Hits $75, Shell Seeks Deepwater Costs at $40 or Below

By Kevin Crowley (Bloomberg) -- The Big Oil playbook has been straightforward for decades: Higher prices mean offshore projects that are further, deeper, more complex than ever before. It’s different this time, according to Royal Dutch Shell Plc. Deepwater projects need to break even at $40 a barrel, or preferably lower, said Harry Brekelmans, Shell’s project and technology … [Read more...]