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Shell eyes possible North Sea target – Penguins

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Chief executive Ben van Beurden said a number of final investment decisions are due to be made in the next 18 months. And among the eight upstream projects is Shell’s Penguins developments in the northern North Sea comprising of several oil and gas fields in the northern end of the East Shetland Basin. Although discovered in the 1970s, the cluster field has never been fully developed due to variety of factors including poor reservoir performance, lack of subsea technology, tricky geology involving faults and the large area involved. But speaking to investors following Shell’s Q2 results yesterday Mr van Beurden said it had made the possible shortlist for sanction. FULL ARTICLE

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