Shell PLC and its companions have agreed on a last funding resolution to proceed with the Gato do Mato deepwater improvement within the pre-salt space of Brazil’s Santos Basin.
The venture will produce as much as 120,000 barrels of oil per day (bopd) by a floating manufacturing, storage and offloading (FPSO) vessel, the British vitality large stated in an internet assertion. Shell estimates recoverable sources to be 370 million barrels.
“Gato do Mato is an instance of our ongoing funding in more and more environment friendly tasks”, commented Zoë Yujnovich, built-in fuel and upstream director at Shell. “The venture contributes to sustaining steady liquids manufacturing from our advantaged Upstream enterprise, and expands our management as the most important international producer in Brazil as we proceed working to supply for the world’s vitality wants nicely into the long run”.
- Advertisement -
The invention straddles two contiguous blocks: BM-S-54, awarded 2005, and Sul de Gato do Mato, a 2017 manufacturing sharing settlement. The leaseholds are positioned off the coast of Rio de Janeiro in water depths starting from 1,750 meters (5,741.47 ft) to 2,050 meters, in keeping with Shell.
Shell operates the Gato do Mato consortium with a 50 % stake by Shell Brasil Petróleo Ltda. Ecopetrol SA owns 30 %. TotalEnergies SE holds the remaining 20 %. State-owned Pré-Sal Petróleo SA (PPSA) manages the manufacturing sharing contract.
“Preliminary operations will contain the reinjection of pure fuel for reservoir stress help, with future optionality to export fuel to onshore services”, Shell stated.
“The funding in Gato do Mato is anticipated to generate an inside fee of return in extra of the hurdle fee for Shell’s Upstream enterprise”, it added.
Final yr Shell and its companions in Atapu, one other Santos discipline, reached a last funding resolution on a part 2 venture. Anticipated to begin manufacturing 2029, the second part could have a brand new FPSO with a capability of 225,000 bopd. Section 1 went onstream 2020 by FPSO P70, which has a capability of 150,000 bopd.
Atapu is operated by Petróleo Brasileiro SA with a 65.7 % curiosity. Shell owns 16.7 %, France’s TotalEnergies 15 %, Petrogal Brasil Ltda. 1.7 % and PPSA 0.9 %.
Within the fourth quarter of 2024 Shell and its companions put onstream one other Santos Basin venture, Mero3. Mero’s part 3 has a manufacturing capability of 180,000 bpd, which is able to increase the sector’s put in capability to 590,000 bpd, in keeping with the homeowners.
Petrobras operates Mero with a 38.6 % stake. TotalEnergies owns 19.3 %, Shell 19.3 %, China Nationwide Petroleum Corp. 9.65 %, CNOOC Ltd. 9.65 % and PPSA 3.5 %.
To contact the writer, e mail jov.onsat@rigzone.com
What do you assume? We’d love to listen to from you, be a part of the dialog on the
Rigzone Vitality Community.
The Rigzone Vitality Community is a brand new social expertise created for you and all vitality professionals to Converse Up about our trade, share data, join with friends and trade insiders and interact in knowledgeable neighborhood that may empower your profession in vitality.
