Shell has began planning the closure of the final oil discipline it operates offshore Norway, Knarr, because it dials again its presence within the nation.In an emailed remark, Shell famous a requirement to current a decommissioning plan to Norway’s regulator two years earlier than an anticipated shutdown, however added it had but to make closing determination.

Shell began manufacturing at Knarr, within the northern a part of the North Sea, in 2015. Liquids output reached 72,000 b/d in August 2016, however has since fallen steeply, to common 20,000 b/d final 12 months, and 16,000 b/d within the first quarter of this 12 months. The crude is offloaded instantly onto shuttle tankers. Efforts to search out new sources within the neighborhood have to this point failed, though this isn’t dominated out.

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“We have began mapping the impacts of a future decommissioning of [Knarr]. We don’t have a agency finish of discipline date, as that is pending manufacturing efficiency, oil worth, value developments, and whether or not there nonetheless are incremental financial sources that may be developed on Knarr,” Shell stated.

Shell offered its working stake within the Draugen discipline and its stake in Gjoa final 12 months to Oslo-listed OKEA, which is backed by Thai oil firm Bangchak. It additionally closed down the Gaupe discipline in July.

The firm nonetheless operates the sizable Ormen Lange fuel discipline, and holds minority stakes in different fields.

But in contrast to BP and Total it has not taken a stake in Norway’s large Johan Sverdrup discipline, which is due on stream this 12 months, with first-phase output to succeed in 440,000 b/d. BP’s Norwegian three way partnership Aker BP holds 11.57% of Johan Sverdrup, whereas Total obtained an eight.44% stake when it purchased Denmark’s Maersk Oil final 12 months.

Source: www.spglobal.com/

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