Shell Offshore revealed that its affiliate, Shell E and P Offshore Services, will exercise a contractual right to buy the Turritella floating, production, storage and offloading (FPSO) vessel from SBM Offshore.
The 159,100 dwt vessel is contracted for the Stones deep-water development in the Gulf of Mexico, which began production last year.
As informed, Shell and SBM will work over the next several months to achieve a “safe, smooth transition” of the vessel operations.
“Transitioning the ownership and operations of the 2003-built vessel to Shell affiliates allows the company to pursue additional efficiencies and achieve cost improvements,” Shell explained.
The Stones development is said to be the world’s deepest offshore oil and gas project and is scheduled to deliver approximately 50,000-barrels of oil equivalent per day (boe/d) by the end of this year.
Turritella FPSO has a daily production capacity of approximately 60,000 barrels of oil and 15 million cubic feet of natural gas.
Currently, Shell has three additional Gulf of Mexico deep-water projects under construction – Appomattox, Kaikias, and Coulomb Phase 2 – as well as options for additional subsea tiebacks and Vito, a potential, new hub in the region.