Shell news

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".

The company has pledged to become a net zero emissions company by 2050, but has come under pressure to make faster progress.

Shell's remaining assets in the Mars corridor in the Gulf of Mexico, Mars and Ursa, remain shut in.

Operations included removing the 1280 metric t topside and the 3019 metric t jacket before transportation to the AF Environmental Base in Norway for recycling and reuse.

The contract will be delivered by around 120 Wood employees across the offshore and onshore assets including the Clipper and Leman offshore assets, Bacton Gas Terminal, Kroonborg and Kasteelborg vessels and the Seafox4 barge campaign.

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.