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Shell's (SHEL) Offshore Colibri Project Pumps First Gas

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Headquartered in London, the oil and gas major, Shell plc (SHEL - Free Report) , through BG International, one of its subsidiaries, stated that it commenced production on Block 22 and NCMA-4 in the North Coast Marine Area (NCMA) of the Colibri project located offshore Trinidad and Tobago.

The start of gas production from Colibri follows the amendment to the Block 6 Production Sharing Contract for the Manatee field, a substantial development in the company’s growth plan in the Caribbean nation. Moreover, the Colibri Project allows for the domestic and international delivery of gas through Atlantic LNG. Shell declared the Final Investment Decision for Project Colibri in March 2020.

Wael Sawan, Director of Integrated Gas, Renewable and Energy Solutions at SHEL mentioned that he was proud of the team in the country and its commitment to delivering the project safely and on time. “This reinforces the delivery of Shell’s Powering Progress strategy in-country, as we seek to provide more and cleaner energy solutions, globally. Colibri, along with other development projects, will see natural gas going into both the domestic petrochemical markets and into LNG exports, in line with the energy ambitions of Trinidad and Tobago,” he further added.

The Colibri Project is a backfill project which is anticipated to augment about 30,000 barrels of oil equivalent per day (boe/d) of the continued near-term gas output, with peak production projected to be roughly 43,000 boe/d through a sequence of four subsea gas wells tied back to the prevailing Poinsettia Platform in the NCMA acreage.

The Colibri development, which is run by Shell, is co-owned with Heritage Petroleum Company Limited, a Trinidadian state-owned oil company that has a working stake of 10% and 20%, respectively, in Block 22 and NCMA-4 in NCMA. In combination with Barracuda and other developments, Colibri will pump more gas to the Trinidad and Tobago domestic markets and LNG export markets.

Shell also holds a majority interest in Atlantic LNG, a prominent global LNG producer. Its equity stake in the Atlantic plant ranges from 46% to 57.5% in each of the four trains at the facility.

Shell is one of the primary oil supermajors, a group of U.S. and Europe-based big energy multinationals with operations spanning worldwide. The company is fully integrated as it participates in every aspect related to energy, from oil production to refining and marketing. SHEL operates as an energy and petrochemical company. Shell plc was formerly known as Royal Dutch Shell.

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