Shell exits two Caspian Sea projects due to high costs

October 22, 2019/in /by Rudolf Huber

The very expensive megaprojects only make sense in a USD 100+ world, maybe even much more than this. This is true not only for Kashagan but for many projects worldwide like deep arctic, superdeep sea or sour oil. Shale oil has made fixed the oil price at around USD 50 and if shale thrives but its alternatives not, we know where the journey goes. There will be more exits.

The retreat from the fields in the Kashagan area reflects an industry-wide push to cut break-even costs as megaprojects give way to smaller endeavors with quicker returns.

www.worldoil.com

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