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Page added on May 9, 2013
Shell presses ahead with world’s deepest offshore oil well
Royal Dutch Shell is pressing ahead with the world’s deepest offshore oil and gas production facility by drilling almost two miles underwater in the politically sensitive Gulf of Mexico.
The move is being viewed in the oil industry as a demonstration of Shell’s confidence that its technology can deliver returns on expensive and risky offshore projects, despite a recent downturn in oil prices.
It comes a day after ExxonMobil said it would start work on a $4bn (£2.6bn) project to develop the Julia oilfield, also in the North American ocean basin, and weeks after BP delayed development of its biggest Gulf of Mexico project – Mad Dog Phase 2 – citing rising costs.
John Hollowell, a Shell executive vice-president, said: “This important investment demonstrates our ongoing commitment to usher in the next generation of deepwater developments, which will deliver more production growth in the Americas. We will continue our leadership in safe, innovative deepwater operations to help meet the growing demand for energy in the US.”
The move comes despite ongoing controversy over offshore exploration – especially in the Gulf of Mexico, where in April 2010 a fire and explosion on the BP Deepwater Horizon rig killed 11 workers and started a leak that took three months to cap. Last month BP said it had paid $25bn (£16bn) of the $42bn it has set aside to cover the damage caused by the spill.
Shell’s Gulf of Mexico field, called Stones, was discovered eight years ago 200 miles south-west of New Orleans and is 2,900 metres (9,500ft) below the sea. Perdido, another Shell site in the region, is currently the world’s deepest offshore well at 2,880 metres below the surface. Meanwhile the company has several other projects nearby, including its 900 metre-deep Mars field, where it is adding new infrastructure, plus its Appomattox and Vito discoveries.
This first phase of the latest project is expected to have annual peak production of 50,000 barrels of oil equivalent per day, from more than 250m barrels of recoverable resources.
Shell added that the whole field has “significant upside potential” and is estimated to contain more than 2bn barrels.
Royal Dutch Shell shares added 20.5p to close at 2242.5p. Last week the company’s chief executive, Peter Voser, unexpectedly announced plans to stand down less than four years into the job as Shell unveiled a 4% increase in first-quarter profits.
14 Comments on "Shell presses ahead with world’s deepest offshore oil well"
luap on Thu, 9th May 2013 11:46 am
so lets get this right…11 dead..eco system destruction and billions wasted..so lets do it all again ..humans….completely fookin mad
BillT on Thu, 9th May 2013 12:20 pm
Desperation. Stupidity. Greed.
Kenz300 on Thu, 9th May 2013 1:49 pm
There are safer, cleaner and cheaper ways to produce energy.
Second generation biofuels can now be made from trash or waste. Every landfill can now be converted to produce biofuels, energy and recycled raw materials for new products.
—————
Who Killed $2.18 Gasoline?
http://www.renewableenergyworld.com/rea/news/article/2013/04/who-killed-2-18-gasoline
—————-
Plantagenet on Thu, 9th May 2013 3:49 pm
Congrats to SHELL on undertaking this bold new venture to target deep oil targets in the GOM.
GOOD LUCK!
Norm on Thu, 9th May 2013 3:57 pm
50,000 barrels a day. is that a lot?
rollin on Thu, 9th May 2013 4:09 pm
If they go much deeper the heat will melt their drill bits!
We don’t need the oil, just need to be more efficient and plan better.
Arthur on Thu, 9th May 2013 4:59 pm
“Congrats to SHELL on undertaking this bold new venture to target deep oil targets in the GOM. GOOD LUCK!”
.
Good luck is what they are going to need. What happens if something goes wrong, like in the case of BP? Are you volunteering to ‘boldly’ dive 3 km deep to fix a well? Djeezus… One simple accident could easily turn into a company killer.
“BP delayed development of its biggest Gulf of Mexico project – Mad Dog Phase 2 – citing rising costs.”
“Mad Dog”, what’s in a name?
”
Page added on May 9, 2013
Shell presses ahead with world’s deepest offshore oil well
Royal Dutch Shell is pressing ahead with the world’s deepest offshore oil and gas production facility by drilling almost two miles underwater in the politically sensitive Gulf of Mexico.
The move is being viewed in the oil industry as a demonstration of Shell’s confidence that its technology can deliver returns on expensive and risky offshore projects, despite a recent downturn in oil prices.
It comes a day after ExxonMobil said it would start work on a $4bn (£2.6bn) project to develop the Julia oilfield”
$4bn, that’s four 1GW conventional power stations worth of wind power.
Arthur on Thu, 9th May 2013 5:01 pm
Sorry, messed up previous post by wrong copy/paste. Should be:
“Congrats to SHELL on undertaking this bold new venture to target deep oil targets in the GOM. GOOD LUCK!”
Good luck is what they are going to need. What happens if something goes wrong, like in the case of BP? Are you volunteering to ‘boldly’ dive 3 km deep to fix a well? Djeezus… One simple accident could easily turn into a company killer.
“BP delayed development of its biggest Gulf of Mexico project – Mad Dog Phase 2 – citing rising costs.”
“Mad Dog”, what’s in a name?
“It comes a day after ExxonMobil said it would start work on a $4bn (£2.6bn) project to develop the Julia oilfield”
$4bn, that’s four 1GW conventional power stations worth of wind power.
Newfie on Thu, 9th May 2013 6:02 pm
The stupid humans will suck every last drop of (economically recoverable) oil from the earth and the emissions will fry the planet to a smoking crisp. What a way to go…
Charlie Bucket on Thu, 9th May 2013 6:19 pm
What will happen to the planet when there is an economic collapse and all these capped wells go unmaintained and all of them start to leak. The place will be completely F#$KED! NOW THAT IS BRAVE! Extremely STUPID but brave.
SOS on Fri, 10th May 2013 2:59 am
Theres enough oil down there to clean up any spill, and there is no spill yet, only the imaginary spills conjured up by environuts.
Get this oil, we need it. Live life by the drop. Thats if your in oil.
SOS on Fri, 10th May 2013 3:06 am
Do you think 100 yeats ago it might have been:
“insert company name here” presses ahead with the rotating bit?
LOL
GregT on Fri, 10th May 2013 6:14 am
“Shell added that the whole field has “significant upside potential” and is estimated to contain more than 2bn barrels.”
So the risk of destroying the livelihoods of millions of people, and the ecosystems that feed and support them, is worth a potential 3 and a half more weeks of oil for the world?
It’s no wonder that the future of mankind on this planet is looking so bleak. It’s time to end corporate control of our governments, and start planning for a future without oil. We have a responsibility and a moral obligation to our children, not to politicians and corporate greed.
luap on Fri, 10th May 2013 7:05 am
Well said Greg T