The American arm of Royal Dutch Shell has announced on Wednesday they have made one of their largest oil discoveries at the Blacktip deepwater site.
Blacktip based in the Gulf of Mexico is co-owned with Chevron, Equinor and Repsol, the oil site is operated by Shell.
Andy Brown, Shell’s upstream director said, “Blacktip is Shell’s second material discovery in the Perdido Corridor and is part of a continuing exploration strategy to add competitive deepwater options to extend our heartlands.
“The Blacktip exploration well has encountered more than 400 feet (122 metres) net oil pay with good reservoir and fluid characteristics.”
He added, “Evaluation is ongoing and appraisal planning is underway to further delineate the discovery and define development options.”
According to a Reuters source, earlier on Wednesday that Royal Dutch Shell, are in talks with BP to buy a stake in the Shearwater gas field in the North Sea in a deal worth more than $250m.