Shell announced a multi-billion dollar investment for the Gulf of Mexico
The project is expected to produce 50,000 barrels of oil a day Shell announced a significant, multi-billion dollar investment to develop its major Cardamom oil and gas field in the deep waters of the Gulf of Mexico (GoM). The Cardamom project is expected to produce 50,000 barrels of oil equivalent (boe) a day at peak production and more than 140 million boe over its lifetime.Technological advances in seismic imaging and drilling have allowed us to both discover and access this new field, said Marvin Odum, Shell Upstream Americas Director. This is another sizeable deep-water investment by Shell that strengthens energy supplies to the USA. It will also secure employment for more offshore workers.Shells rigorous global safety standards underpin our approach to deep-water exploration and production. Our exploration plan for Cardamom (Shell interest 100%) was the first to receive approval since the lifting of the US government moratorium on drilling in the GoM. As a result of todays final investment decision, Shell will move ahead with further development drilling and installing undersea equipment.Shell discovered the Cardamom reservoir in 2010 using advanced seismic technology that was able to produce improved images versus traditional seismic methods. The discovery was confirmed by drilling a ...
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