This website is using a security service to protect itself from online attacks. The service requires full JavaScript support in order to view the website. Please enable JavaScript on your browser and try again. Reference ID: 67166dc8d27d4bdababfce533c6eb57a
Shell has said it halved the development cost and accelerated the commercialisation of its Shell deepwater oil field in the Gulf of Mexico by exploiting existing wells rather than drilling new ones. It had used a simplified and standardised design for the wells and incorporated existing processing equipment, Kaikias said. Production has started a year ahead of schedule and the company said it had reduced the predicted break-even price of a barrel of oil to $ 30 . It also persuaded some of its vendors to standardise their own subsea equipment.