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    RDSA   GB00B03MLX29

ROYAL DUTCH SHELL PLC

(RDSA)
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Shell Delivers First Gas From Trinidad and Tobago Project -- Commodity Comment

07/22/2021 | 11:12am EDT

By Robb M. Stewart

Royal Dutch Shell PLC's Barracuda development in Trinidad and Tobago has delivered its first gas, a milestone for the energy company's first greenfield project in the country and its liquefied natural has ambitions globally.

On Barracuda:

The company's Shell Trinidad and Tobago business on Thursday announces production started on Block 5C in the East Coast Marine Area in Trinidad and Tobago. Block 5C is a backfill project with about 25,000 barrels of oil equivalent a day of sustained near-term gas production, with peak production expected to be about 40,000 boe/d.

Shell announced a final investment decision in Barracuda in January 2020, and drilling began in May last year.

Barracuda comprises two subsea wells, one in the Endeavour field and the other in the Bounty field and both tied back to Shell's Dolphin platform. The company said these are two of the deepest development wells in Trinidad and Tobago.

Shell is a major shareholder in Atlantic LNG, a with equity in the Atlantic plant ranging from 46% to 57.5% in each of the four production lines at the LNG facility.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

07-22-21 1111ET

Stocks mentioned in the article
ChangeLast1st jan.
ROYAL DUTCH SHELL PLC -0.79% 17.3 Real-time Quote.18.38%
WTI -0.19% 72.403 Delayed Quote.46.90%
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Financials (USD)
Sales 2021 286 B - -
Net income 2021 19 337 M - -
Net Debt 2021 58 724 M - -
P/E ratio 2021 8,79x
Yield 2021 4,15%
Capitalization 156 B 156 B -
EV / Sales 2021 0,75x
EV / Sales 2022 0,69x
Nbr of Employees 87 000
Free-Float 99,4%
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Mean consensus BUY
Number of Analysts 13
Last Close Price 20,35 $
Average target price 25,64 $
Spread / Average Target 26,0%
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Managers and Directors
Bernardus Cornelis Adriana Margriet van Beurden Chief Executive Officer & Executive Director
Jessica Rodgers Uhl Chief Financial Officer & Director
Andrew Stewart Mackenzie Chairman
Harry Brekelmans Director-Technology & Projects
Gerrit Zalm Independent Non-Executive Director
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