Shell Inks World's Deepest FPSO for Stones Development
Shell Offshore Inc. awarded a supply and lease contract with SBM Offshore for a Floating Production Storage and Offloading (FPSO) vessel for the Stones development project in the Gulf of Mexico.
The 10-year contract includes future extension options up to a total of 20 years, stated the press release. The contract is valued at about $1 billion.
The converted Suezmax FPSO, to be the deepest development in the world, will store 800,000 barrels of crude oil with a processing capacity of 60,000 barrels of oil per day and 15 million cubic feet per day of gas treatment and export capabilities.
"We are delighted to have been selected to supply the deepest floating installation in the world, setting a new technological benchmark and confirming our position as a leader in the FPSO market and large turret mooring systems for deepwater," stated SBM Offshore CEO Bruno Chabas, in a press release.
SBM performed the Front End Engineering & Design (FEED) study for the development, which Shell made a final investment decision in May 2013. At 9,500 feet deep, Stones is situated on Walker Ridge Block 508.
The field's development will initially consist of two development wells tied-back to the FPSO with six additional wells to follow at a later date. Peak production for the first phase is expected to reach 50,000 barrels of oil equivalents per day.
The Stones reservoir is estimated to hold more than 2 billion barrels of oil equivalent.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Operates 28 Offshore Rigs
- Shell Looks Beyond Road Fuels to Secure Future of Refining (Nov 06)
- API Panel Member: Voluntary Methane Program Forthcoming (Oct 06)
- Eni Bets Big on Zohr Explorer Finding New Treasure (Oct 06)
Company: SBM Offshore N.V. more info
- Ex-SBM Executives Plead Guilty In US To Petrobras Bribe Charges (Nov 09)
- SBM Offshore, Repsol to Get $247 Million in Yme Insurance Settlement (Jul 17)
- Weak Oil Pushes SBM Offshore To Axe More Jobs (Aug 10)