The Netherlands-based multinational oil and gas company Royal Dutch Shell has announced to re-evaluate its development plans for the Fram oil and gas field located in the North Sea.
The company will reevaluate the field development plan, following unexpected initial drilling results.
Fram oil and gas field situated in blocks 29/3c and 29/8a of the central North Sea, UK, lies in 100m of water and is about 220km east of Aberdeen and 50km west of the UK and Norway median line.
The original development plan was designed for a 35,000 barrel oil equivalent per day using floating, production, storage and offloading (FPSO) technology.
Shell along with its partner Esso Exploration & Production will evaluate and create a new strategy to develop the field, while the development drilling will continue.
Also, in light of the new reassessment program, Shell has decided to discontinue several important projects associated with the development of the field.
Shell with 32% interest in the Fram oil and gas field is the operator, while Esso Exploration & Production holds the remaining 68% interest.