TOP NEWS: Shell commits to invest in renewables-powered Timi project

(Alliance News) - Royal Dutch Shell PLC on Monday said it has committed to progress the Timi gas ...

Alliance News 30 August, 2021 | 9:16AM
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(Alliance News) - Royal Dutch Shell PLC on Monday said it has committed to progress the Timi gas development project, Malaysia.

Shell subsidiary Sarawak Shell Berhad has taken a final investment decision on Timi and, together with partners PETRONAS Carigali Sdn Bhd and Brunei Energy Exploration, will be delivering the project located 200 kilometres off the coast of Sarawak.

Shell will be the operator of the project, holding a 75% stake, while PETRONAS and Brunei Energy hold interests of 15% and 10%, respectively.

At peak production, the Timi development is expected to reach up to 50,000 barrels of oil equivalent per day.

Timi features Sarawak Shell Berhad's first wellhead platform in Malaysia that is powered by a solar and wind hybrid renewable power system.

"Timi, which is powered by a solar and wind hybrid power system, demonstrates Shell's capabilities to innovate and deliver safe, reliable, and sustainable projects, in line with our commitment to achieve net-zero emissions by 2050 in step with society. Shell is pleased to be able to progress this project in a competitive and responsible manner, as part of the vital role Upstream plays in delivering Shell's strategy and in support of economic growth in Malaysia," said Wael Sawan, Shell Upstream director.

By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Royal Dutch Shell PLC B 1,784.00 GBX -0.23
Royal Dutch Shell PLC Class A 1,773.80 GBX -0.11

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