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Shell hopes to make investment decision on Penguins ‘shortly’

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Steve Phimister, upstream vice president for the UK and Ireland at Shell, said the company had delivered on its plans for the current year and paid tribute to staff members.

Highlights from the year included the sale of a package of North Sea assets to Chrysaor and the arrival of the Brent Delta platform in Hartlepool for scrapping.

Shell hopes to make a final investment decision (FID) on redeveloping the Penguins area “shortly”.

Mr Phimister said Penguins was on track to be the “first cab out of the rank” next year.

It is understood that Shell has awarded the contract for the construction of a vessel for Penguins to US engineering firm Fluor.

But Shell said the progression of any work on Penguins depended on the FID being made.

Penguins started production in 2003 via a subsea tieback to the Brent Charlie platform.

The aging Charlie platform is expected to retire in the coming years, which means Shell needs another way of producing from Penguins.

Mr Phimister also said the company was fitter and ready to invest in the North Sea after taking steps to turn around the business.

He said development plans with partners in the Central Grabban Area were “quite mature”.

He said Shell intended to use its Shearwater platform as a host for some of those plans.

Shell has about 1,500 employees in Aberdeen and produces 150,000 barrels per day from the basin after the sale to Chrysaor.

Shell chief financial officer Jessica Uhl said last month that the company was happy with its portfolio following the divestment.



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