Analyst: Cambo decision means Shell likely sees UKCS as a ‘difficult place to invest’

Shell’s shock decision to back out of the contentious Cambo field caps a tough few months for the oil giant, as far as the North Sea goes.

07/12/2021, 12:01 am Updated: 08/12/2021, 1:40 pm

Shell’s shock decision to back out of the contentious Cambo field caps a tough few months for the oil giant, as far as the North Sea goes.

Just two months ago OPRED, the UK regulator, unexpectedly declined to approve the company’s field development plans for the Jackdaw project.

It means the supermajor has to make changes to the North Sea scheme, which has reserves of between 120-250 million barrels of oil equivalent.

You are reading subscriber exclusive content. Log in or try a 30 day free trial for unlimited access to all of Energy Voice's content.

Breaking