Shell is proceeding with the Vito deepwater development in the US Gulf of Mexico. The company’s final investment decision, which is based on a breakeven price below $35 per bbl, initiates the construction and fabrication of a new, simplified design for the host facility and subsea infrastructure, the company said. Vito will be developed in more than 4,000 ft of water over four blocks in the Mississippi Canyon section about 150 miles southeast of New Orleans. The project will consist of eight subsea wells with 18,000-ft in-well gas lift, with production expected to reach approximately 100,000 BOE/D. Estimated recoverable reserves are 300 million BOE. Shell is the operator and has a 63.11% interest in the project, with Statoil holding the remaining stake.
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