| Shell Starts Third Phase of Production in Bonga Oil Field | |
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Royal Dutch Shell plc RDS.A has commenced the third stage of operations from its massive Bonga oil field, located off the coast of Nigeria. In this phase, Shell has roughly 50,000 barrels oil equivalent of peak production capacity.
It is to be noted that the floating production and storage vessel assisting the third phase of the development has a production capacity of more than 200,000 barrels of oil and 150 million standard cubic feet of natural gas every day.
Shell is the operator of the Bonga field with a 55% stake. Among the other members, Exxon Mobil Corporation XOM has a 20% interest. The affiliates of Eni SpA E and TOTAL SA TOT hold 12.5% each.
Looking back, it was during 2005 that the Bonga field had started producing oil and natural gas. This is also the first deep water project – 1,000 meters deep – in Nigeria. Most importantly, the field has generated more than 600 million barrels of oil so far.
Shell is one of the largest integrated energy firms in the world with a strong and diversified portfolio of development projects that offer attractive long-term opportunities. The company’s decision to acquire BG Group, UK’s third largest energy player, is expected to improve its prospects.
However, Shell’s revenues, earnings and cash flow have been significantly hurt by weak crude prices.
As a result, the company currently carries a Zacks Rank #3 (Hold), which implies that the stock will perform in line with the broader U.S. equity market over the next one to three months.
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Royal Dutch Shell
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CODE : RDSA.AS |
ISIN : US7802592060 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Royal Dutch Shell is a oil producing company based in Netherlands. Royal Dutch Shell is listed in Germany, in Netherlands, in United Kingdom and in United States of America. Its market capitalisation is €UR 187.4 billions as of today (US$ 214.0 billions, € 187.4 billions). Its stock quote reached its highest recent level on May 24, 2018 at €UR 31.38, and its lowest recent point on October 30, 2020 at €UR 10.10. Royal Dutch Shell has 8 222 179 840 shares outstanding. |