June 4, 2019
Projects in the Brazilian pre-salt are highlights in the company’s global strategy until 2025
Deepwater operations in Brazil are one of the most important exploration and production projects in Shell’s global portfolio by 2025, according to analysts’ presentation on Tuesday.
The company’s effort is to develop deep-water and ultra-deepwater projects to grow more robustly in the country. The seven units under development were highlighted: P-70 and P-68 (construction) by 2020; Mero 1 and P-71 (construction) by 2021, in addition to Gato do Mato, Mero 2, 3 and 4, in pre-FID (final investment decision phase).
Shell also has 15 FPSOs in operation in the country, which helped the oil company to produce around 375 thousand boed in the first quarter of 2019, reinforcing its position as the largest foreign producer in Brazil.
In its presentation, the company highlighted the good results of Mero’s initial production system with average production of 60 thousand boed, the exploration plans of Três Marias, Alto de Cabo Frio Oeste and Saturno (the last two as operator) and highlighted the opportunities that pre-salt has to offer.
The company has been investing heavily in the acquisition of assets in the country in recent years and intends to participate in all auctions that will be held in 2019.
Source: BE Petroleum