Shell provides fresh boost for North Sea oil and gas industry

11/10/2018 08:48 Energy

news

Royal Dutch Shell has provided fresh encouragement for the North Sea oil and gas industry by deciding to develop the Arran field around 150 miles east of Aberdeen.

The field development is the fourth the oil and gas giant has approved in the UK North Sea this year.

 

The decision to develop fields such as Arran shows giants like Shell once again see the potential to achieve good returns on projects in the North Sea.

 

Arran is expected to produce 21,000 barrels of oil equivalent per day at peak. First gas is targeted in 2021.

 

Shell and BP expect to start production from the Clair Ridge development West of Shetland this year, with output expected to peak at 120,000 boepd.

 

Shell has also approved the Fram development and the revamp of the Penguins field in the North Sea this year. The Arran development requires approval by the Oil and Gas Authority.

Source: heraldscotland.com

Daily (06.12.2019): German spot power down 26% on Thursday on strong wind output

06/12/2019 09:46:00

Crude oil prices evolved differently on Thursday, with WTI prices ending flat and Brent slightly up as traders awaited a decision on output from major oil producers. Brent crude rose by 39 cents, or 0.6%, to settle at $63.39 a barrel, after a hike of 3.6% in the previous session. WTI crude remained unchanged at $58.43 a barrel on the NYMEX, after surging by 4.2% the previous day. A committee of oil producers led by Saudi Arabia and Russia recommended on Thursday that the group increase their current oil production cuts by 500,000 barrels a day.

<READ MORE

BP to supply Amazon with 170MW of renewable power

06/12/2019 09:40:00

Oil giant BP has signed a deal to supply Amazon Web Services (AWS) with renewable energy to power its data centres in Europe.

READ MORE

Italy's A2A to buy 1-GW solar project pipeline from Talesun

06/12/2019 09:35:00

The renewables subsidiary of Italian utility A2A SpA has struck a deal to buy a roughly 1,000-MW solar project development pipeline from the Talesun group.

READ MORE