Member access

4-Traders Homepage  >  Shares  >  Euronext Amsterdam  >  Royal Dutch Shell A    RDSA   GB00B03MLX29

ROYAL DUTCH SHELL A (RDSA)

484
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Shell: Reassessing Development Plan For North Sea Fram Oil, Gas Field

02/22/2013 | 09:11am US/Eastern

By Selina Williams

LONDON--Royal Dutch Shell PLC (>> Royal Dutch Shell Plc) is reassessing its development plan for the Fram oil and gas field in the North Sea following "unexpected" initial drilling results, the company said late Thursday.

Shell had planned to produce an average of 35,000 barrels of oil equivalent a day from the field, with first production targeted within the next three years.

"Development drilling for the Fram field began last year but early assessments have shown unexpected well results. Development drilling will continue for the next several months and the results will inform a revised strategy for Fram," Shell said in a statement posted on its website.

Shell and its partner in the joint venture Esso Exploration & Production UK Ltd., a unit of Exxon Mobil Corp. (>> Exxon Mobil Corporation), is continuing to evaluate the potential of the Fram reservoirs, with a view to producing an alternative development plan for the field, Shell said.

Shell has already cancelled an order with SBM NV (>> SBM OFFSHORE) for a floating production storage and offloading vessel, or FPSO, that was to be used in the Fram project.

The Fram field is located 220 kilometers east of Aberdeen and 50 kilometers west of the median line between the U.K. and Norway in a water depth of approximately 100 meters.

Write to Selina Williams at selina.williams@wsj.com; Twitter: @selinawilliams3

-0- 
 

(MORE TO FOLLOW) Dow Jones Newswires

02-22-13 0810ET

Stocks mentioned in the article : Royal Dutch Shell Plc, SBM OFFSHORE, Exxon Mobil Corporation
React to this article
Latest news on ROYAL DUTCH SHELL A
11:37a FTSE set for 2 percent weekly drop as commodity stocks fall
11:08a ROYAL DUTCH SHELL A : plc - SPDC completes sale of oil mining lease 29 and Nembe..
11:08a Hi-tech and Big Data offer hope to battered U.S. oil industry
07:05a ROYAL DUTCH SHELL A : Shell Oil Assigned Patent
06:00a DIRECTCASH PAYMENTS : Announces Partnership With Bank of Montreal to Extend ATM ..
03/26 Iraq oil minister sees $70 crude by end 2015
03/26 Canadian upgrader maintenance to cut second quarter synthetic crude supply
03/26DJShell to Cut 250 North Sea Jobs
03/26 ROYAL DUTCH SHELL A : Shell To Cut At Least 250 North Sea Jobs, Change Shift Pat..
03/26DJRoyal Dutch Shell to Cut 250 North Sea Jobs; Change Shift Patterns
Advertisement
Chart
Duration : Period :
Royal Dutch Shell A Technical Analysis Chart | RDSA | GB00B03MLX29 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF