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Shell drops big subsea project in Norway

  • Royal Dutch Shell (RDS.A, RDS.B) is postponing an innovative project to provide subsea compression for a major Norwegian gas field without the need for a platform, dealing a setback for a technology that may have revolutionized offshore production.
  • The Ormen Lange field, which produces the equivalent of 20% of Britain's gas needs, eventually will lose its natural pressure, and subsea compression was seen as a cheaper alternative to building a platform.
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