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  • Shell Invests in the Uk’s Pierce Field
    édité le 07/10/2019 - Plus de news de "SHELL" - Voir la fiche entreprise de "SHELL"


Shell Invests in the Uk’s Pierce Field
Shell U.K. Ltd (Shell) and its partner Ithaca Energy (UK) Limited have taken a final investment decision on the Pierce Depressurisation Project in the UK Central North Sea.

The move will enable Shell to start exporting gas from the Pierce field. It builds on Shell’s significant presence in the North Sea and works to help maximise the economic recovery of oil and gas from beneath UK waters.

“This important development of the Pierce field will allow us to unlock additional gas reserves for the UK’s homes and businesses, and value for our shareholders,” said Steve Phimister, Vice President Upstream and Director of Shell U.K. Limited. “It is Shell’s eighth final investment decision in the UK Continental Shelf since the start of 2018. Each is part of a careful and cost-effective strategic expansion of our North Sea capacity, in line with our core upstream focus on profitable investments and competitive growth opportunities.”

The investment will go towards modifying the existing floating production, support and offloading (FPSO) vessel, the Haewene Brim, which is owned and operated by Bluewater. The work also includes installing a sub-sea gas export line from the FPSO to the SEGAL pipeline, and the drilling of new wells.

The Pierce development work has Oil & Gas Authority approval and will take place between 2020 and 2021. The Pierce field is then expected to produce more than 30,000 barrels of oil equivalent per day at peak production.

Pierce is a joint venture between Shell (Shell share 92.52%) and Ithaca Energy (UK) Limited (Ithaca share 7.48%).

About Royal Dutch Shell plc

Royal Dutch Shell plc is incorporated in England and Wales, has its headquarters in The Hague and is listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 70 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects.

About Ithaca Energy

Ithaca's strategy is centred on building a highly profitable, leading North Sea oil and gas company. The Company is an experienced North Sea operator focused on the delivery of lower risk growth through the appraisal and development of UK undeveloped discoveries and the exploitation of its UK producing asset portfolio. The Company was founded in 2004 and has grown through the execution of both new field development activities and acquisitions. Ithaca is a wholly owned subsidiary of the Tel Aviv stock exchange listed Delek Group Limited (TASE: DLEKG, US ADR: DGRLY), Israel’s leading integrated energy company.


Origine : Communiqué SHELL

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