Marvin Odum News

Royal Dutch Shell has given the green light for the development of its largest platform in the Gulf of Mexico after making steep cost cuts which made the deep water project economical despite low oil prices. The decision to pour billions of dollars into the Appomattox project comes as companies have scrapped around $200 billion of mega-projects in the wake of the sharp decline in oil prices over the past year. Shell has operated in the Gulf of Mexico for over 60 years. The region contributes about 17 percent of total U.S. crude oil production according to the Energy Information Administration and was the location in 2010 of the worst offshore oil spill in U.S. history, involving BP's Deepwater Horizon well.

Royal Dutch Shell plc will pause its exploration drilling activity for 2013 in Alaska’s Beaufort and Chukchi Seas. Shell inform that the time out this season will be used to prepare equipment and plans for a resumption of activity at a later stage. “We’ve made progress in Alaska, but this is a long-term program that we are pursuing in a safe and measured way,” said Shell Oil Company President, Marvin Odum. Alaska holds important energy resources. At the same time, securing access to those resources requires special expertise, technology and an in depth understanding of the environmental and societal sensitivities unique to the region. Shell is one of the leaders in an industry move into offshore Arctic exploration.

Shell US Gas & Power & Kinder Morgen subsidiary Southern Liquefaction Company to exploit LNG export opportunities. The two companies have announced their intent to form a limited liability company to develop a natural gas liquefaction plant in two phases at Southern LNG's existing Elba Island LNG Terminal, near Savannah, Ga. Subject to various corporate and regulatory approvals, Shell and Kinder Morgan affiliates have agreed to modify EPB’s Elba Express Pipeline and Elba Island LNG Terminal to physically transport natural gas to the terminal and to load the liquefied natural gas (LNG) onto ships for export. “Kinder Morgan is delighted to be working with Shell at Elba Island on this project…

The 'Kulluk', towed by the 'AHTS Aiviq' has arrived in the safe harbor for assessment of any damage caused by its recent grounding. The Kulluk was refloated from its Ocean Bay position, off Sitkalidak Island, late Jan. 6, and will remain connected to its support vessels while it undergoes assessment in Kiliuda Bay, located about 30 miles north of Ocean Bay. The final location for assessment within the Bay will be determined by environmental conditions, including weather. The Coast…

Shell announced a multi-billion dollar investment to develop its major Cardamom oil and gas field in the deep waters of the Gulf of Mexico (GoM). The Cardamom project is expected to produce 50,000 barrels of oil equivalent (boe) a day at peak production and more than 140 million boe over its lifetime.“Technological advances in seismic imaging and drilling have allowed us to both discover and access this new field,” said Marvin Odum, Shell Upstream Americas Director. “This is another sizeable deep-water investment by Shell that strengthens energy supplies to the USA. "Our exploration plan for Cardamom (Shell interest 100%) was the first to receive approval since the lifting of the US government moratorium on drilling in the GoM.

Shell announced investment to support phase II of the prolific Parque das Conchas (BC-10) project more than 100 kilometres (62 miles) off the coast of Brazil. This significant investment develops the fourth field in the BC-10 block and continues a successful wave of production growth in Shell’s Upstream Americas business. The full project delivers an energy resource of approximately 300 million barrels of oil equivalent, with production of some 100,000 barrels of oil equivalent per day. “This is another important milestone in our delivery of substantial growth in the Americas," said Marvin Odum, Upstream Americas Director. Shell began production from the first phase of Parque das Conchas in 2009 with production from nine wells in three fields – Abalone, Ostra, and Argonauta B-West.

Today four oil majors – Chevron, ConocoPhillips, ExxonMobil and Shell – announced a plan to build and deploy a rapid response system that will be available to capture and contain oil in the event of a potential future underwater well blowout in the deepwater Gulf of Mexico. Significantly, the companies have already committed $1 billion to fund the initial costs of the system, and the four will form a non-profit organization, the Marine Well Containment Company, to operate and maintain this system. Other companies will be invited and encouraged to participate in this organization.