Royal Dutch Shell (LSE:RDSB)
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6 Months : From Mar 2019 to Sep 2019
By Oliver Griffin
Royal Dutch Shell PLC (RDSB.LN) on Thursday said production at the Appomattox floating production system in the U.S. Gulf of Mexico has started months ahead of schedule.
Appomattox, which has an expected production of 175,000 barrels of oil equivalent a day, is the first commercial discovery to be brought into production in the deep-water Gulf of Mexico Norphlet formation, the Anglo-Dutch oil company said.
The platform is operated by Shell, which owns a 79% stake in Appomattox. A subsidiary of CNOOC Ltd. (0883.HK) owns the remaining 21%.
Shell said it designs and operates its deep-water projects to be competitive, adding that since 2014, it has reduced unit-development and unit-operating costs by about 45%.
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(END) Dow Jones Newswires
May 23, 2019 11:15 ET (15:15 GMT)
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