Shell strikes deal for first use of prototype compressor

Sep 25, 2001 02:00 AM

Shell has struck a deal with leading Scottish engineering group Weir and English firm Corac for first use of technology designed to extend the life of ageing gas fields by up to five years. Shell said it had cut its growth targets for the next three years by 2 % and that output from ageing North Sea and US fields was falling faster than anticipated.
Along with development specialist Corac, Weir subsidiary Weir Pumps hopes to tap a fast-growing field recovery market valued globally at up to $ 35 bn.

The news couldn't come at a better time with Shell warning of cuts in its growth targets for the next three years by 2 % and that output from ageing North Sea and US fields was falling faster than anticipated. After testing with Shell, the first fully functional prototype compressor will take around three years to complete.

Source: Energy24
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