Shell PLC on Tuesday said it restarted production at the Penguins field in the UK North Sea with a modern floating, production, storage & offloading facility.
The London-based oil major said peak production is estimated at around 45,000 barrels of oil equivalent per day, with an estimated discoverable resource volume of around 100 million boe.
Penguins will produce enough gas to heat around 700,000 UK homes per year, Shell said.
Zoe Yujnovich, Shell’s Integrated Gas & Upstream director said: ‘Today, the UK relies on imports to meet much of its demand for oil and gas. The Penguins field is a source of the secure domestic energy production people need today, and the FPSO is a demonstration of our investment in competitive projects that create more value with less emissions.’
Shell shares fell 0.6% to 2,611.00 pence each on Tuesday morning in London.
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