The sale is for a base consideration of US$646 million and additional payments of up to US$280 million between 2021 and 2024.
Subsea 7’s scope includes the engineering, procurement, construction, and installation of the subsea flowline system as well as the installation of OneSubsea’s multiphase compression system.
Shell’s Permian business includes ownership in approximately 225 000 net acres with current production of around 175 000 boe/d.
A comprehensive damage assessment of the West Delta-143 (WD-143) offshore facilities from Hurricane Ida has revealed significant structural damage.
The results of the initial phase of the survey will be interpreted and, if required, a second geotechnical phase incorporating the collection of samples from the seabed will be undertaken before the end of the year.
Based on satellite technology, the solution lets oil and gas companies measure real-time well temperature and pressure on unconnected wells in remote and offshore locations.
At the early phase of assessment and recovery, approximately 80% of Shell-operated production in the Gulf of Mexico remains offline.
The Timi development features Shell's first wellhead platform in Malaysia powered by a solar and wind hybrid renewable power system.