Shell Gives Go-Ahead for Gulf of Mexico Oil Platform

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 [e-mail]

(END) Dow Jones Newswires

12-20-23 0214ET