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Shell Approves Investment in Mars B Gulf of Mexico Oil Platform

Bloomberg

By Joe Carroll – Sep 28, 2010

Royal Dutch Shell Plc, Europe’s largest energy company, gave final approval to an investment in an oil platform in the Gulf of Mexico.

Shell, based in The Hague, said in a PR Newswire statement that the Mars B platform will pump the equivalent of 100,000 barrels of crude a day when it begins output sometime after 2014. The dollar amount of the investment was not disclosed.

Shell owns a 71.5 percent stake in Mars B and will operate the platform, according to the statement. BP Plc of London also owns an interest in the project.

Editor: Kim Jordan.

To contact the reporter on this story: Joe Carroll in Chicago at [email protected]

To contact the editor responsible for this story: Susan Warren at [email protected].

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