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Sunday 16 July 2017

Shell purchases storage vessel from SBM Offshore




THE HAGUE, NETHERLANDS: Shell Offshore Inc said that its affiliate, Shell E and P Offshore Services BV, will exercise a contractual right to purchase the Turritella floating, production, storage and offloading (FPSO) vessel from SBM Offshore. 
The vessel is contracted for the Stones deep-water development in the Gulf of Mexico, which began production last year. Shell and SBM will work over the next several months to achieve a safe, smooth transition of the vessel operations.  
Transitioning the ownership and operations of the vessel to Shell affiliates allows the company to pursue additional efficiencies and achieve cost improvements to deliver shareholder value at Stones with a continued commitment to operational excellence and safety. The Stones development is the world’s deepest offshore oil and gas project and is scheduled to deliver approximately 50,000-barrels of oil equivalent per day (boe/d) by the end of this year. 

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