SINGAPORE, April 7 (Reuters) - Royal Dutch Shell RDSa.L said on Tuesday its Australian unit and joint venture partners had decided to delay a final investment decision (FID) on the Crux gas project in offshore Australia that was initially planned for 2020.
The firms decided to delay the FID "due to the global economic downturn, including the sharp drop in oil price, declining markets and uncertainties with regard to the COVID-19 pandemic," a spokeswoman said in a statement emailed to Reuters, adding that Shell remained committed to developing Crux.
Crux, owned by Shell, Osaka Gas 9532.T and a unit of Seven Group Holdings SVW.AX , is one of several gas fields that have been awaiting development off northwestern Australia.