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Shell invests in UK Pierce field
Shell (92.52%) and its partner Ithaca Energy (7.48%) have taken a final investment decision (FID) on the Pierce depressurisation project in the UK Central North Sea. The move will enable Shell to start exporting gas from the field.
‘This important development of the Pierce field will allow us to unlock additional gas reserves for the UK’s homes and businesses, and value for our shareholders,’ says Steve Phimister, Vice President Upstream and Director of Shell UK. ‘It is Shell’s eighth FID in the UK Continental Shelf since the start of 2018. Each is part of a careful and cost-effective strategic expansion of our North Sea capacity, in line with our core upstream focus on profitable investments and competitive growth opportunities.’
The investment will go towards modifying the existing floating production, storage and offloading (FPSO) vessel, the Haewene Brim, which is owned and operated by Bluewater. The work also includes installing a subsea gas export line from the FPSO to the SEGAL pipeline, and the drilling of new wells.
Work will take place between 2020 and 2021. The Pierce field is expected to produce more than 30,000 boe/d at peak production.