Shenandoah is a world-class, proven and appraised oil and gas field in the deepwater US Gulf of Mexico and is Navitas Petroleum’s most significant investment to date. Navitas Petroleum’s 49% working interest was acquired in a series of transactions in 2018 and 2019 after prior owners invested greater than USD 1.8 billion in exploration and appraisal activities.
The Shenandoah project has been substantially progressed since its August 2021 final investment decision (FID) date. The development is anchored by a floating production system (FPS) capable of producing and exporting approximately 120,000 barrels of oil per day (expansion from 100,000 to 120,000 barrels of oil per day nameplate capacity was facilitated to serve Monument project’s future production). The FPS has sailed away from HD Hyundai Heavy Industries’ shipyard in South Korea to Texas, USA, in December 2024.
The Shenandoah project initial development phase includes four production wells, and First Oil is expected during Q2-2025.
During December 2024, the Shenandoah partner group announced FID on an expansion of the Shenandoah initial development phase (“Shenandoah Expansion”). The Shenandoah Expansion will increase FPS capacity to 140,000 barrels of oil per day by early 2026, will include installation of a subsea pumps for hydraulic support and will include drilling of additional development wells. This fully financed expansion plan should be implemented between 2025 and 2028.
Partners
