Shell approves 15th US Gulf of Mexico oil platform, boosting production.
TL;DR Summary
Shell and Equinor have given the green light for the construction of a new oil and gas platform, called Sparta, in the U.S. Gulf of Mexico. The platform, with a production capacity of 90,000 barrels per day, is set to start production in 2028. Shell plans to aggressively invest in exploration in the Gulf of Mexico and aims to continue production through 2050. The company has shifted its focus back to oil to boost profits and has scrapped its plan to reduce oil output. Shell holds a 51% stake in the project, with Equinor holding the remaining share.
- Shell greenlights 15th US Gulf of Mexico oil platform Reuters
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- Perdido partners back drilling to boost GoM production Offshore magazine
- Shell's (SHEL) Subsidiary Announces FID for Sparta Development Zacks Investment Research
- Shell Gives Go-Ahead for Gulf of Mexico Oil Platform MarketWatch
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