Shell: Reassessing development plan for North Sea Fram oil and gas field
BY SELINA WILLIAMS
LONDON -- Shell is reassessing its development plan for the Fram oil and gas field in the North Sea following "unexpected" initial drilling results, the company said.
Shell had planned to produce an average of 35,000 boepd from the field, with first production targeted within the next three years. "Development drilling for the Fram field began last year but early assessments have shown unexpected well results. Development drilling will continue for the next several months and the results will inform a revised strategy for Fram" Shell said in a statement posted on its website.
Shell and its partner in the joint venture Esso, a unit of Exxon Mobil, is continuing to evaluate the potential of the Fram reservoirs, with a view to producing an alternative development plan for the field, Shell said.
Shell has already cancelled an order with SBM Offshore for a FPSO that was to be used in the Fram project.
The Fram field is located 220 km east of Aberdeen and 50 km west of the median line between the United Kingdom and Norway in a water depth of approximately 100 m.
Dow Jones Newswires