Uncategorized

Auction consolidates Shell’s position in Brazil

10/1/18

Shell Brasil president André Araujo said that the results of the 5th Round of the pre-salt reinforces the company’s interest and definitively consolidates the company’s participation in the oil and gas sector in Brazil. “It’s one more step [of Shell] to believe in the country and I think this was the result of strong teamwork together with the partners of the consortium,” said Araujo.

Shell and Chevron competed with ExxonMobil and QPI in the areas of Saturn and Tita, taking the best in Saturn. “I am very happy with this result, obviously it was a great unpredictability with large companies participating and at the end of the day we took the block from Saturn as operators,” he said.

Regarding the elections, Araujo recalled that Shell has been operating in Brazil for 105 years and during this period the company has experienced a lot of volatility. “I have been saying since 2013 that this is a country that respects contracts and we continue to advance our bets to the country. Brazil has many advantages for those who are following Shell’s work and you know that we are opening many opportunities, not only in oil and gas, but also in other segments and the country is blessed by opportunities, “he said.

With regard to the next government, the message was in the same direction. “What we expect is that the next government will continue to understand the role and contribution that the oil and gas industry brings to the country and continue to maintain ever clearer rules and predictability. That’s what we need. ”

The Shell president further explained that the recent rise in the price of oil did not influence the company’s decision to participate in the auction. “Our decisions are not made based on the price of the day and are not made based on the day’s exchange rate. These investments are for 30 years and we do our internal reviews and our scenarios on oil and price behavior and we will not make such decisions based on very recent data and data that we know will be very volatile . We always look at the risks of the country, but Brazil has clearly demonstrated the interest of attracting investments here, “he said.

Source: Valor

Categories: Uncategorized

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