Shell is already considering where the next phase of growth will come from when spare capacity is eventually available at its Penguins redevelopment in the UK northern North Sea, years before the scheme has even come on stream, writes Rob Watts.

Shell took a final investment decision on Penguins only in January and is gearing up for the start of construction of the Sevan Marine-designed floating production, storage and offloading vessel that will form the centrepiece of the scheme.

Delegates to the Devex 2018 conference in Aberdeen this week heard that Shell is already looking ahead to the middle of the next decade, when peak output from Penguins is expected to begin tailing off.