Shell Pledges Long Term Commitment to North Sea Oil
From The Telegraph
By Andrew Cave
Ed Daniels says in an interview in The Daily Telegraph that the UK arm of Royal Dutch Shell, will continue to have a major presence in North Sea production, despite suggestions by commentators that the larger companies will wind down their activities, leaving the area’s mature oil and gas fields to niche specialist players and sovereign wealth funds.
“There’s a misperception that oil majors, Shell included, are not particularly interested in the North Sea,” Mr Daniels said. “Actually, that’s just not true. We at Shell are a big North Sea producer today, representing 14pc of UK oil.
“We’re investing £2bn a year in the North Sea, either in new developments or refurbishment of existing activities to re-life them for the next 10 and 20 years. We see that there is a material presence for Shell in the North Sea for years to come. I think the North Sea as a province has decades of activity.”
By posting your comment, you agree to abide by our Posting rules