Shell to Construct FPSO Vessel, Subsea Infrastructure at Stones Project

Industry Execs See Higher Costs, Improved Safety with New Regulations

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.

MAIN FACTS:

  • 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.

Copyright (c) 2012 Dow Jones & Company, Inc.

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