Commercial

Shell to Redevelop North Sea Offshore Oil Field

By R&WI Staff | January 16, 2018
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North Sea offshore platform

File photo

Royal Dutch Shell said it plans to redevelop the Penguins oil and gas field in the North Sea. Media reports say this is the oil company's first new manned installation in 30 years. Shell said peak production would amount to 45,000 barrels a day, with a break-even price of less than $40 a barrel.

Read more at Bloomberg.

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