LONDON - Exploration company Royal Dutch Shell PLC Wednesday said it will construct a floating production, storage, and offloading (FPSO) vessel and subsea infrastructure at the Stones ultra-deepwater project in the Gulf of Mexico.
- Stones field is located in 9,500 feet (2,896 meters) of water, 200 miles (320 kilometers) southwest of New Orleans, Louisiana, and was discovered in 2005.
- Development will start with two subsea production wells tied back to the FPSO vessel, followed later by six additional production wells.
- First phase of development is expected to have annual peak production of 50,000 boe/d (barrels Of oil equivalent per day) from more than 250 million boe (barrel of oil equivalent) of recoverable resources.
- Stones field has significant upside potential and is estimated to contain over 2 billion boe of oil in place.
- Tankers will transport oil from the Stones FPSO to U.S. refineries, and gas will be transported by pipeline.
- Holds 100% interest and will operate the Stones development.
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