Shell purchases deep-water production and storage vessel

ROYAL DUTCH SHELL

The Turritella FPSO has a daily production capacity of approximately 60,000 barrels of oil and 15 million cubic feet of natural gas.

The vessel is contracted for the Stones deep-water development in the Gulf of Mexico, which began production last year


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Shell Offshore, Inc said on July 11 that its affiliate, Shell E and P Offshore Services BV, would exercise a contractual right to purchase the Turritella floating, production, storage and offloading (FPSO) vessel from SBM Offshore.

The vessel is contracted for the Stones deep-water development in the Gulf of Mexico, which began production last year.

Shell and SBM will work over the next several months to achieve a safe, smooth transition of the vessel operations, the Anglo Dutch company said.

Transitioning the ownership and operations of the vessel to Shell affiliates allows the company to pursue additional efficiencies and achieve cost improvements to deliver shareholder value at Stones with a continued commitment to operational excellence and safety, Shell said.

The Stones development is the world’s deepest offshore oil and gas project and is scheduled to deliver approximately 50,000-barrels of oil equivalent per day by the end of this year.

The Turritella FPSO has a daily production capacity of approximately 60,000 barrels of oil and 15 million cubic feet of natural gas.

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