Subsea 7 SA announced the award of a contract by Shell for the Arran gas field development on March 29, located approximately 150 miles (241 km) east of Aberdeen.
The contract scope includes project management, engineering, procurement, construction and installation of 60 km of mechanically lined pipe-in-pipe production flowline, together with subsea structures and tie-ins at the Arran and Columbus gas condensate fields and the Shearwater platform.
Project management and detailed engineering has commenced at Subsea 7’s office in Aberdeen, with offshore activities due to commence in 2020.
“This latest contract builds on our strong and established relationship with Shell, which has seen us deliver our design, engineering and technology expertise on a range of their projects for over 35 years,” Jonathan Tame, vice president U.K. & Canada, said.
Devon Energy said it now expects exploration and production capex to be between $950 million and $990 million, $10 million lower at the top end of an earlier forecast, its third reduction to the budget since March.
Per-acre prices varied widely between $15 an acre and $11,353 an acre.
Shell hit record earnings from its vast retail division, despite the impact on demand of the COVID-19 pandemic, which it said continued to generate "significant uncertainty."