By Christian Moess Laursen

 

Shell has given the go-ahead for a deep-water oil-and-gas platform in the Gulf of Mexico.

The project, named Sparta, is expected to reach peak production of around 90,000 barrels of oil-equivalent a day, while it currently has an estimated, discovered recoverable resource volume of 244 million BOE.

Production it scheduled to start in 2028, the London-based energy company said late Tuesday.

The development is 51% owned by subsidiary Shell Offshore and 49% owned by Norwegian peer Equinor, and will be Shell's 15th deep-water project in the Gulf.

The investment cost wasn't disclosed.

 

Write to Christian Moess Laursen at christian.moess@wsj.com

 

(END) Dow Jones Newswires

December 20, 2023 02:14 ET (07:14 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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