Royal Dutch Shell a global group of energy and petrochemical companies. I have a holding in my income portfolio (epic code: RDSB)
Shell has announced that it plans to proceed with an investment in the Stones ultra-deepwater oil and natural gas project in the Gulf of Mexico.
The development is expected to host the deepest production facility in the world. This first phase of development is expected to have annual peak production of 50,000 boe/d from more than 250m boe of recoverable resources. The Stones field, of which Shell is the sole owner, has significant upside potential and is estimated to contain over 2bn boe of oil in place. Put into context Shell have about 13.6bn boe proved reserves.
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