Share This Post

Discoveries / Industry News / Offshore

How Shell hid a Whale before placing Mexican oil bet

It’s worth noting that Shell, or any other explorers, are not legally obliged to publicly disclose a discovery. The fact that its first major exploration success in over 10 years came adjacent to blocks coming up for auction was a matter of good fortune.

Shell did not yet released any estimates for the Whale’s recoverable resources, but two industry sources close to the exploration project put the figure at up to 700 million barrels of oil. That equates to about half of Shell’s 2017 oil production and would make the reservoir one of the biggest discoveries of the past decade in the industry. But, even though a similar geology might increase the chances of similar exploration success, there are no guarantees.

The Reuters article (link below) also goes into some great analysis on how this discovery may impact their Shells oil reserves.

Published in Discoveries, Industry News, Offshore

Share This Post

Leave a Reply

Join the Convo

Join the Convo and get exclusive newsletters, comment and like articles and invite and make new friends. Already a member - login.