The oil giant will now instead pursue a slimmed down, cheaper development, Upstream has learned.
Having decided the project is not viable in its current form, the Anglo-Dutch giant is expected to target a more nimble development that some are now referring to as Bonga South West ‘Lite’.
The supermajor is expected to embark on fresh front-end engineering and design studies over the next six-to-nine months on the deep-water scheme as it looks to shave billions of dollars from capital expenditure before issuing revised bid documents in the first quarter of 2017.
Industry
