Shell is investing billions to develop its Cardamom oil and gas field in the deep waters of the Gulf of Mexico, it was announced today.

The oil giant has a 100% interest in the new field which is expected to produce 50,000 barrels of oil equivalent (boe) a day at peak production and more than 140 million boe over its lifetime.

Marvin Odum, the oil giant’s Upstream Americas Director said that technological advances in seismic imaging and drilling have made the deepwater project possible.

The Cardomom Project was the first to receive approval since the lifting of the US government moratorium on drilling in the GoM, according to Shell.

Shell will now move ahead with further development drilling and installing undersea equipment.