Royal Dutch Shell PLC has postponed its Jackdaw natural-gas field development in the North Sea, the company said Tuesday, as energy companies slash spending in response to plummeting prices.
The project, which analysts estimate to be valued around $1 billion, is the second that Shell has delayed in the region. In March, a decision on whether to proceed with developing the Cambo field northwest of the Shetland Islands was postponed until next year, according to Shell and its partner on the project, Siccar Point, an oil-and-gas...