Win-Win Deal Of Shell

Shell UK Exploration & Production (Shell Expro) has signed a groundbreaking deal with Apache North Sea Ltd to drill up to three exploration wells to extend the life of two major fields in the Central North Sea.

Under the deal, Apache will drill two wells, with agreement in principle for a third, near the Shell?s Nelson field and its own Forties.

Rien Herber, the exploration director of Shell Expro in Europe, said: "This deal is a great example of cross-industry collaboration... it will help to maximize recovery of hydrocarbons from a mature area like the North Sea (...). The Forties field is adjacent to the Nelson field, so Apache was the logical partner for Shell. ?

"A farm-out deal is a win-win for all companies involved and ... if hydrocarbons are discovered, they will probably be produced at the nearby Shell-operated Nelson platform."

John Crum, the managing director of Apache North Sea, revoiced: "The Shell and Apache partnership has the potential to make a long-term difference in the North Sea through increases in exploration and development activity."