Maersk Drilling given one-well exploration contract by OMV
The contract is for drilling a well in the Oswig prospect in Block 30/5C of the Northern North Sea basin offshore Norway.
The contract is for drilling a well in the Oswig prospect in Block 30/5C of the Northern North Sea basin offshore Norway.
The tie-back project will reach a production of 40 000 boe/d in mid-2022.
Shell said in a statement that it had "concluded the economic case for investment in this project is not strong enough at this time, as well as having the potential for delays".