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Shell gives go-ahead to major Gulf of Mexico oilfield development

Reuters logo Reuters 7/26/2021

LONDON, July 26 (Reuters) - Royal Dutch Shell announced plans on Monday to develop a new oilfield in the Gulf of Mexico, its first major project to get the go-ahead since a Dutch court ordered the energy company to accelerate its emissions reduction targets.

The Whale development, operated by Shell which owns 60% of the project, alongside with Chevron with 40%, is expected to reach peak production of around 100,000 barrels of oil equivalent per day (boed), Shell said in a statement.

Whale, which was discovered in 2017, holds a recoverable resource if 490 million barrels of oil equivalent and is scheduled to begin production in 2024. (Reporting by Ron Bousso; Editing by Edmund Blair)

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