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(Alliance News) - Shell PLC on Wednesday said its subsidiary Shell Offshore Inc announced its final investment decision for Sparta, a deep-water development in the US Gulf of Mexico, expecting to begin production in 2028.
The London-based oil major owns 51% of Shell Offshore, with Equinor Gulf of Mexico LLC, part of Stavanger, Norway-based Equinor ASA, owning 49%.
Shell said Sparta is expected to reach a peak output of about 90,000 barrels of oil equivalent per day and currently has an estimated discovered recoverable resource volume of 244 million barrels of oil equivalent.
It will be Shell's 15th deep-water host in the Gulf of Mexico and is scheduled to begin production in 2028.
"Shell's latest deep-water development demonstrates the power of replication, driving greater value from our advantaged positions," said Zoe Yujnovich, director of Integrated Gas & Upstream.
Shell added: "Building on more than 40 years of deep-water expertise, Sparta also marks Shell's first development in the Gulf of Mexico to produce from reservoirs with pressures up to 20,000 pounds per square inch."
By Tom Budszus, Alliance News slot editor
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