Take a closer look at the journey of Vito to a final investment decision in the video below.

VITO IN THE US GULF OF MEXICO

In 2015, Shell began to redesign the Vito project, reducing cost estimates by more than 70% from the original concept. Vito’s cost savings are due to the simplified design, in addition to working collaboratively with vendors in a variety of areas including well design and completions, subsea, contracting, and topsides design.

With 40-years of Shell leadership in deep water, Vito will be Shell’s 11th deep-water host in the Gulf of Mexico and is currently scheduled to begin producing oil in 2021.

 

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* The forward-looking breakeven price presented above is calculated based on all forward-looking costs associated from FID.  Accordingly, this typically excludes exploration and appraisal costs, lease bonuses, exploration seismic and exploration team overhead costs. The forward-looking breakeven price is calculated based on our estimate of resources volumes that are currently classified as 2p and 2c under the Society of Petroleum Engineers’ Resource Classification System.  As this project is expected to be multi-decade producing, the less than $35 per barrel projection will not be reflected either in earnings or cash flow in the next five years.

Location: Gulf of Mexico; approximately 150-miles southeast of New Orleans located over four blocks in the Mississippi Canyon area 
Depth: Water depth is more than 4,000 feet 
Interests: Shell Offshore Inc. (63.11% operator) and Statoil USA E&P Inc. (36.89%)
Field: Vito 
Production: Vito is expected to reach peak production of approximately 100,000 barrels of oil equivalent (boe) per day, which represents a significant contribution to our continued growth in the Gulf of Mexico. The development currently has an estimated, recoverable resource of 300 million boe.

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