Shell secured yesterday E&P rights to 2 blocks in the Caribbean, COL 3 and GUA OFF 3 (Guajira) totalling ab. 8,800 sq km and former TEAs. For now and in a nutshell, Shell intends to invest up to USD 650 MM in the new acreage. Commitments include reprocessing of 1,000 sq km of 3D and drill 1 well in COL 3, and shoot 2,461 sq km of 3D, sampling and re-processing in GUA OFF 3. Anadarko, Repsol and ExxonMobil are still awaiting TEA conversions. Release from ANH.
Shell has signed exploration and production contracts for two blocks off Col 3 & Gua 3, ab. 8800kmÂ² and former TEAs.