The global oil and gas company, Shell, has started production from the Mars B development through Olympus. It is the company’s seventh and largest floating deep-water platform currently located in the Gulf of Mexico.
However, it is the first deep-water project in the Gulf to expand an already existing oil and gas field with significant new infrastructure. Company officials believe this will extend the life of the greater Mars basin to 2050 or even further. The combined future production from Olympus and the original Mars platform is expected to produce an estimated 1 billion barrels of oil equivalent (boe).
“With two large platforms now producing from the deep-water Mars field, this project demonstrates our deep-water project delivery and leadership,” said John Hollowell, executive vice president for deep water, Shell Upstream Americas. “We safely completed construction and installation of the Olympus platform more than six months ahead of schedule, allowing us to begin production early from the development’s first well. Olympus is the latest, successful start-up of our strong portfolio of deep-water projects, which we expect to generate substantial value in the coming years. Deep water will continue to be a core growth opportunity for Shell.”