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24/7 Wall St.

Offshore drill rigLate yesterday, Royal Dutch Shell PLC (NYSE: RDS-A) said that it plans to “reassess the development plan” for its joint venture with the U.K. division of Exxon Mobil Corp. (NYSE: XOM) for the Fram oil and gas field in the North Sea. The company said that “early assessments have shown unexpected results.”

Shell owns 32% of the joint venture and is the field operator. Fram was cleared for development last October and, at that time, the companies expected production to reach 35,000 barrels a day of oil equivalent using a floating production storage and off-loading (FPSO) rig. That is not a huge project by Shell’s or Exxon’s standards — Shell’s production totaled about 3.2 million barrels a day in 2011 and Exxon’s topped 4 billion barrels a day. But it is a decent size and is located in an area that is not subject to the…

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SMIPP Ltd is a DG Independent Power Plant Private Joint Stock Company. 25-60 MW Gas Turbines Power Generators

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