Oil & gas industry major Shell in its recent announcement has unveiled that it has given the green signal for the Fram gas field in the UK North Sea. After announcing the final verdict on the investment in the project, the company has revealed that Fram will be capable of producing over 41 million cubic feet of gas per day and around 5,300 barrels of condensate per day. The combination equates to 12,400 barrels of oil equivalent on a daily basis.
Sources reveal that Shell will transport the discovered gas from the two natural gas wells via a new subsea pipeline to the existing Starling field from which it will be further transported to the Shearwater platform through the current network of pipelines.
Commenting on the recent move, Andy Brown, upstream director of Shell was quoted saying that Fram is a cost-effective and a simplified project for the company which will enable better profitability through development in this field. He further added that the company’s strategy to work in partnership and focus on cost effective projects to maximize the economic recovery of the North Sea has in turn transformed & revitalized Shell’s upstream business space.
Shell’s vice president for Upstream division in the UK & Ireland, Steve Phimister, said that the significant reduction in the development costs had allowed the company to invest in new projects such as Fram and Penguins. Mr. Phimister further added that with the company’s strong record for operational excellence and project execution, it is certain to take step forward in growing its business in the North Sea.
For the record, recently in January 2018, Shell had announced hundreds of employment opportunities that would be created during the construction of a vessel that will be used in the redevelopment of the Penguins oil & gas field off the Shetland coast.