Shell decides to add another Gulf oil platform

GULF OF MEXICO — Shell Oil Company has made a final investment decision for its Mars B deepwater development, located approximately 130-miles south of New Orleans in the Gulf of Mexico.

The development will include a second tension-leg platform, named “Olympus,” to enhance recovery from the Mars field.  The new platform will also provide process infrastructure for two of Shell’s recent deepwater discoveries, West Boreas and South Deimos.

The tension-leg platform is a “proven concept,” according to Shell,  which the company first successfully executed in the early 1990s. First production from the Mars B Olympus platform is expected in 2015; the facility will be designed to process approximately 100,000 barrels of oil equivalent per day.

Shell discovered the deepwater Mars field in 1989.  Production from this field was first brought online in 1996.

Shell will operate the Mars B Olympus tension-leg platform and currently holds a 71.5-percent working interest in the development.  BP holds the remaining 28.5-percent working interest.