Offshore installation activities are scheduled for 2020 and 2021. The field is located beneath more than 4,000 feet of water, about 150 miles south-east of New Orleans. It is currently scheduled to begin producing oil in 2021. Projects earmarked for investment will include deep offshore, shallow water, swamp and land terrain. The Vito development is owned by Shell (63.11% operator) and Equinor (36.89%). Shell’s first solar project in the Middle East is helping to power a smelting company in northern Oman and cutting its carbon emissions in the process. Shell, the operator of the Whale project, holds 60% in the field, while Chevron holds the remaining 40%. In 2015, Shell began to redesign the Vito project, reducing cost estimates by more than 70% from the original concept. Vito’s cost savings are due to the simplified design, in addition to working collaboratively with vendors in a variety of areas including well design and completions, subsea, contracting, and topsides design. Credit: Royal Dutch Shell. In 2015, Shell began to redesign the Vito project, reducing cost estimates by more than 70% from the original concept. The Vito project — with a capacity of around 100,000 barrels of oil equivalent per day — is set to commence oil production from 2021. Shell has a 30% stake in the business. Vito’s cost savings are due to the simplified design, in addition to working collaboratively with vendors in a variety of areas including well design and completions, subsea, contracting, and topsides design. Shell, which took a final investment decision (FID) on Vito in 2018, has stated that Vito will apply a new, simplified host design and subsea infrastructure. The US oil major last month cut its 2020 project budget by $4 billion and suspended share buybacks to save cash. Shell, Statoil make investment decision for Vito field development Offshore staff. Shell says the decision comes after a redesign of the project launched […] Building on Shell’s history of leadership in the Gulf of Mexico, Vito will be Shell’s 11th deep-water project in the area. Shell’s Vito development, sanctioned in April 2018, will consist of a Vito semi-submersible Floating Production Unit (FPU) connected to eight subsea wells with deep (18,000 feet) in-well gas lift. Vito, which Shell is operating in a joint venture with Equinor, was given the go-ahead for funding in April and is currently scheduled to begin production in 2021. Our ability to advance this world-class resource is a testament to … These findings were an important verification to Oko and the project team, clearing an easier path for the project to move forward. Project management and engineering will take place in Houston, Texas, with support from Subsea 7’s specialist technical Pipeline Group in Glasgow, UK. In 2015, Shell began to redesign the Vito project, reducing cost estimates by more than 70% from the original concept. Shell’s deep-water projects portfolio in the area includes Kaikias, Appomattox and Coulomb Phase 2. Vito oilfield was originally planned to be developed as a satellite field tied-back to the Appomattox development, but was later deemed to require its own production infrastructure owing to its size. Share Article. The FPU is being made for Shell’s Whale field development, with the agreement coming ahead of a final investment decision to be made next year by Shell for the full project. Jumbo has been awarded an installation contract for the Shell deepwater Vito development project. Resources at Vito are estimated at 300 million barrels of oil equivalent per day with production capacity estimated at about 100,000 barrels of oil equivalent per day. In 2015, Shell began to redesign the Vito project, reducing cost estimates by more than 70% from the original concept. Anadarko will continue to develop deepwater U.S. Gulf of Mexico projects. With a lower-cost developmental approach, the Vito project is a very competitive and attractive opportunity industry-wide. Unit (FPU) construction project. Resilience and change in a year like no other. The Vito development is owned by Shell Offshore Inc. (63.11% operator) and Statoil USA E&P Inc. (36.89%); the field is located beneath more than 4,000 ft (1,219 m) of water, about 150 mi (241 km) southeast of New Orleans. Vito’s cost savings are due to the simplified design, in addition to working collaboratively with vendors in a variety of areas including well design and completions, subsea, contracting, and topsides design. In April 2018 Shell announced the final investment decision for Vito, a deep-water development in the US Gulf of Mexico. The project’s pace has slowed and an investment decision has been put off to next year, a Chevron spokeswoman said. Equinor holds the remaining ownership interest. SCHIEDAM, the Netherlands – Jumbo has been awarded the installation contract for the Shell deepwater Vito development in the US Gulf of Mexico. Business & Finance December 2, 2016 US-based provider of construction services Jacobs Engineering has been awarded a contract from Shell for the Vito project in the Gulf of Mexico. Shell began a redesign of the project in 2015, shortly after the oil price downturn, to reduce cost estimates. Vito will be Shell’s 11th deep-water host in the Gulf of Mexico. 15/06/2018, 8:13 am. Shell expects Vito to reach peak production of approximately 100,000 barrels of oil equivalent (boe) per day. Vito’s cost savings are due to the simplified design, in addition to working collaboratively with vendors in a variety of areas including well design and completions, subsea, contracting, and topsides design. In 2015, Shell began to redesign the Vito project, reducing cost estimates by more than 70% from the original concept. Read more. The development currently has an estimated, recoverable resource of 300 million boe. Fairplayer, Jumbo's DP-2 heavy-lift crane vessel. Vito will be Shell’s 11th deep-water host in the Gulf of Mexico. Shell Offshore Inc (Shell), a subsidiary of Royal Dutch Shell plc has announced the final investment decision for Vito, a deep-waterdevelopment in US Gulf of Mexico.With a forward-looking, break-even price estimated to be less than $35 per barrel. Vito development. This follows the Shell Vito FPU project awarded to us in FY2018 for deep-water development in the US Gulf of Mexico. by Mark Lammey. Shell drilled Vito’s first discovery well in 2009 at Mississippi Canyon Block 984. Shell Vito. Shell operate under a joint venture between the Nigerian National Petroleum Corporation, Royal Dutch Shell Plc, Total Exploration and Production Nigeria Ltd. and Nigerian Agip Oil Company Ltd. Vito’s cost savings are due to the simplified design, in addition to working collaboratively with vendors in a variety of areas including well design and completions, subsea, contracting, and topsides design. In 2015, Shell began to redesign the Vito project, reducing cost estimates by more than 70% from the original concept. For more information and data about oil and gas and petrochemical projects go to Project Smart Explorer GATE is extremely proud to be trusted with a project such as Vito that represents a new paradigm in Shell’s offshore project delivery model.” Grant Gibson, founder and CEO of GATE, stated: “Vito adds to our recent awards to give GATE record book-to-bill for blue chip clients as we accelerate out of the downturn. Singapore’s Sembcorp Marine will construct and integrate the hull, topsides and living quarters of the FPU. The Vito project is another Shell’s multibillion-dollar project authorized in May 2018. In 2015, Shell began to redesign the Vito project, reducing cost estimates by more than 70% from the original concept. Shell owns a 63.11% interest in Vito and will operate the development upon startup. The Whale field development will include a floating production unit (FPU) that will be operated in the Alaminos Canyon Block 772 in the deep-water Gulf of Mexico. At this stage, Shell, Anadarko and Statoil are targeting to start the front end engineering and design (FEED) in 2015 for a final investment decision (FID) on Vito not before 2016. Vito is Shell’s latest deepwater project in the Gulf of Mexico, after Appomattox, Kaikias and Coulomb Phase 2, which are currently under construction. Deep Down has received an order from Shell for work related to its Vito development in the U.S. Gulf of Mexico. Shell began to redesign the Vito project in 2015, reducing cost estimates by more than 70% from the original concept. 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