Huge doubt cast on Cambo oil field as Shell decides not to invest
By Allister Thomas
December 2, 2021, 6:08 pmUpdated: December 2, 2021, 8:44 pm
Greenpeace Norway activists in kayaks confront Siem Day loading drilling infrastructure for the Cambo oil field on behalf of Siccar Point Energy and Shell Oil, at Randaberg Industries, outside Stavanger, Norway.
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Huge doubt has been cast on the future of the Cambo development in the west of Shetland after oil giant Shell decided not to invest in the project.
It comes as the industry has been awaiting approval from the Oil and Gas Authority (OGA) for Cambo, which would allow the project to proceed to a crucial final investment decision (FID).
Shell, which controls a 30% stake in the scheme has taken the decision not to progress its investment.
