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Analysis: Hail shale, but deepwater oil fights back

Reuters  |  LONDON 

By Ron BoussoLONDON (Reuters) - Penguins, Royal Dutch Shell's latest oil and gas development in a remote corner of the British North Sea, epitomises the new doctrine for deepwater projects -- keep it cheap and simple. Shunned during the oil price crash of 2014-2016, deepwater projects are being embraced again, a challenge to the surge in onshore U.S. shale output.Penguins, the first new major deepwater project this year, will rejuvenate the 44-year-old field by drilling 8 new wells 165 metres (541 feet) underwater and connecting them to a new production vessel. Due for completion in 2021 ...

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First Published: Wed, February 14 2018. 20:59 IST