Shell presses ahead with world's deepest offshore oil well

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Shell presses ahead with world's deepest offshore oil well
mrmuffins69 Offer Upgrade User ID: 38058139 United States 05/09/2013 11:03 PM Report Abusive Post Report Copyright Violation	Shell presses ahead with world's deepest offshore oil well Royal Dutch Shell is pressing ahead with the world's deepest offshore oil and gas production facility by drilling almost two miles underwater in the politically sensitive Gulf of Mexico. The move is being viewed in the oil industry as a demonstration of Shell's confidence that its technology can deliver returns on expensive and risky offshore projects, despite a recent downturn in oil prices. It comes a day after ExxonMobil said it would start work on a $4bn (£2.6bn) project to develop the Julia oilfield, also in the North American ocean basin, and weeks after BP delayed development of its biggest Gulf of Mexico project – Mad Dog Phase 2 – citing rising costs.

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