• 17 hours Oil Prices Rise After API Reports Major Crude Draw
  • 18 hours Citgo President And 5 VPs Arrested On Embezzlement Charges
  • 18 hours Gazprom Speaks Out Against OPEC Production Cut Extension
  • 18 hours Statoil Looks To Lighter Oil To Boost Profitability
  • 20 hours Oil Billionaire Becomes Wind Energy’s Top Influencer
  • 21 hours Transneft Warns Urals Oil Quality Reaching Critical Levels
  • 22 hours Whitefish Energy Suspends Work In Puerto Rico
  • 23 hours U.S. Authorities Arrest Two On Major Energy Corruption Scheme
  • 1 day Thanksgiving Gas Prices At 3-Year High
  • 2 days Iraq’s Giant Majnoon Oilfield Attracts Attention Of Supermajors
  • 2 days South Iraq Oil Exports Close To Record High To Offset Kirkuk Drop
  • 2 days Iraqi Forces Find Mass Graves In Oil Wells Near Kirkuk
  • 2 days Chevron Joint Venture Signs $1.7B Oil, Gas Deal In Nigeria
  • 2 days Iraq Steps In To Offset Falling Venezuela Oil Production
  • 2 days ConocoPhillips Sets Price Ceiling For New Projects
  • 4 days Shell Oil Trading Head Steps Down After 29 Years
  • 5 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 5 days Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 5 days $1.6 Billion Canadian-US Hydropower Project Approved
  • 5 days Venezuela Officially In Default
  • 5 days Iran Prepares To Export LNG To Boost Trade Relations
  • 5 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 5 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 5 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 6 days Rosneft Announces Completion Of World’s Longest Well
  • 6 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 6 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 6 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 6 days Santos Admits It Rejected $7.2B Takeover Bid
  • 6 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 6 days Africa’s Richest Woman Fired From Sonangol
  • 7 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 7 days Russian Hackers Target British Energy Industry
  • 7 days Venezuela Signs $3.15B Debt Restructuring Deal With Russia
  • 7 days DOJ: Protestors Interfering With Pipeline Construction Will Be Prosecuted
  • 7 days Lower Oil Prices Benefit European Refiners
  • 7 days World’s Biggest Private Equity Firm Raises $1 Billion To Invest In Oil
  • 8 days Oil Prices Tank After API Reports Strong Build In Crude Inventories
  • 8 days Iraq Oil Revenue Not Enough For Sustainable Development
  • 8 days Sudan In Talks With Foreign Oil Firms To Boost Crude Production
Is This The New Sweet Spot For Shale?

Is This The New Sweet Spot For Shale?

Shale drillers and oil majors…

Is Tesla’s E-Truck A Game Changer For Energy Markets?

Is Tesla’s E-Truck A Game Changer For Energy Markets?

Tesla’s E-truck is a potential…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

Shell Starts Production In Ultra Deepwater Field In Gulf Of Mexico

FPSO

Royal Dutch Shell announced on Tuesday that it started production in its ultra deepwater fields in the Gulf of Mexico, according to an official statement posted on the company’s website.

The Stones site lies 200 miles southwest of New Orleans and will produce an estimated 50,000 barrels of oil per day by the time it operates at full capacity at the end of 2017.

Almost 9,500 feet underwater, the project is the world’s deepest oil and gas extraction effort to date and has been organized and funded completely by the Anglo-Dutch firm.

“Stones is the latest example of our leadership, capability, and knowledge which are key to profitably developing our global deep-water resources,” Andy Brown, Upstream Director for Royal Dutch Shell, said in a statement. “Our growing expertise in using such technologies in innovative ways will help us unlock more deep-water resources around the world.”

The statement said the innovations that occurred in order to make the project a reality would deliver up to $1 billion in cost savings once all wells are completed.

The floating production, storage and offloading vessel (FPSO) has also been designed to withstand natural disasters, the company said.

“In the event of a severe storm or hurricane, [the FPSA] can disconnect and sail away from the field,” the statement read. “Once the weather event has passed, the vessel would return and safely resume production.”

The project will also allow marine scientists from the University of Southern Mississippi and other institutions to extract new data about marine life and water currents deep in the Gulf of Mexico. Researchers are particularly interested in measuring how climate change has affected the world’s oceans in recent years.

"Just imagine what we can learn by collecting deep-ocean research data in the same spot for the life of the project - maybe as much as 25 years,” Dr. Pak Leung, a company oceanographer, told Inside Energy, a Shell publication.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News