Energy giant Shell is splashing out $1bn to exercise a purchase option on the FPSO Turritella in the US Gulf of Mexico.
The company selling the asset is a joint-venture owned by SBM Offshore with 55% interest, Mitsubishi Corporation with 30% interest and NYK Line with a 15% interest.
“The purchase allows Shell to assume operatorship of the Stones development in its entirety, creating additional efficiencies through integration of sub-sea to surface operations and allowing leverage of its optimized Gulf of Mexico organization and infrastructure,” SBM said in a statement.
