(Reuters) – Royal Dutch Shell has begun drilling the Saturn block in the Santos pre-salt basin, the company’s Brazil chief said on Thursday, adding that Brazil faces hurdles to remain attractive in a low-price environment.
Brazil’s No. 2 oil producer after state-run Petroleo Brasileiro, Shell is the operator of block with a 45% stake, along with Chevron, also at 45%, and Ecopetrol, with 10%. The consortium won the block in a 2018 auction.
