EnergyWatch

Shell to redevelop Penguins

The oil company has made the largest investment decision in the North Sea since Maersk's gas field Culzean. The cautious era of the downturn is now over, according to an analyst.

Photo: Shell

Shell has made the final investment decision (FID) to redevelop the oil and gas field Penguins in the North Sea.

The oil company will construct a Floating Production, Storage and Offloading vessel (FPSO), which will be Shell's first manned installation in the northern North Sea in almost 30 years. US-based contractor Flour has been awarded the FPSO engineering, procurement and construction contract, while Norway's Sevan Marine will provide the technology as well as technical support during the project's design phase, according to a press release from Shell.

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