Shell Takes FID on Phase 3 Silvertip Project in GOM


   
   OAKHURST, N.J. (DTN) --- Shell Offshore Inc. announced today final 
investment decision on the Phase 3 Silvertip project, which will deliver two 
wells to boost production at the Shell-operated Perdido spar in the US Gulf of 
Mexico.

   Phase 3 Silvertip includes two wells, tied into existing subsea 
infrastructure and is in the Silvertip Frio Reservoir, under a partnership 
where Shell holds 40% as operator and Chevron has 60%.

   The wells are expected to collectively produce up to 6,000 boepd at peak 
rates, with the first production expected in 2026.

   "This investment at Perdido is another example of our focus on high margin, 
lower carbon intensity barrels," said Rich Howe, Shell's executive vice 
president for deep water.."

   Perdido is a production spar in the US Gulf of Mexico, located within 
Alaminos Canyon, approximately 200 miles offshore south of Galveston, Texas in 
about 8,000 feet of water.

   Shell is operator of the Perdido Regional Host and has 35% Working Interest 
WI, with Chevron holding 37.5% WI, 3C Perdido Holdings 26.5% and BP 1% WI.




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