On Tuesday, Shell Offshore announced that it had given final approval for the development of its Vito discovery in the Gulf of Mexico. This is yet another positive for the deepwater Gulf and confirms that the recovery is underway. The project’s significance is the confirmation that the industry can reduce costs in what has always been considered the most expensive domestic hydrocarbon basin.
The Vito field is located 150 miles southeast of New Orleans and in over 4,000 feet of water. It is ow
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