Post Tagged with: "Vito"

Shell rendering of its Vito deep-water development in the U.S. Gulf of Mexico. Vito will feature a new, simplified host design and associated infrastructure. (PRNewsfoto/Shell Offshore Inc.)

Shell Expects its Deepwater GOM Project Vito will Break Even at Sub-$35 Oil

Royal Dutch Shell’s (ticker: RDS.A) Shell Offshore Inc. finalized its investment decision for the deep-water development, Vito, located in the U.S. Gulf of Mexico. The company said it estimates a forward-looking, breakeven price to be less than $35 per barrel. Vito will be Shell’s 11th deep-water host in the Gulf of Mexico and it is currently scheduled to begin producing oil in 2021. According to Shell, Vito is expected to reach peak production of approximately 100,000 BOEPD. The development currently has an estimated recoverable resource of 300 MMBOE. Redesigned In 2015, Shell began to redesign the Vito project, reducing cost estimates by more than 70% from the original concept.  Shell said that Vito’s cost savings are due to the simplified design, in addition to working collaboratively with vendors in a variety of areas including well design and completions, subsea, contracting and topsides design. Ownership Vito ownership is held by[Read More…]