- Royal Dutch Shell (RDS.A, RDS.B) says it has started oil production from the Gumusut-Kakap floating platform off the coast of Malaysia, the latest in a series of Shell deepwater projects.
- Shell expects the Gumusut-Kakap platform to reach annual peak oil production of ~135K bbl/day when fully ramped up.
- The project is a joint venture between operator Shell with a 33% stake, ConocoPhillips (NYSE:COP) with 33%, Malaysia's state-run Petronas with 20%, and Murphy Oil (NYSE:MUR) with 14%.