Commenting on the news today that Shell has announced a final investment decision (FID) for the Arran field in the North Sea – whilst also becoming operator of the project – Oil & Gas UK’s Upstream Policy Director, Mike Tholen, said:
“This is a significant announcement from Shell, marking its fourth FID in the UK North Sea this year, and will further boost investor confidence in the potential of the basin.
“At peak production, the Arran field is expected to produce around 21,000 boe (barrels of oil equivalent) per day, and Shell’s focus on efficiency, innovation and collaboration means it is well positioned to maximise economic recovery from the field.
“The industry’s challenge is to hold firm in its approach to further improve the competitiveness of the basin so that it continues to be an attractive destination for investors.”
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