Shell Adds New, Deep-Water Production in Brazil

Shell Adds New, Deep-Water Production in Brazil

Shell Adds New, Deep-Water Production in Brazil

The FINANCIAL -- Operated by Petrobras, P-69 is a standardized vessel that can process up to 150,000 barrels of oil and 6 million cubic meters of natural gas daily. It will ramp up production through eight producing and seven injection wells.

Following Lula Extreme South, the next FPSO is P-67 for Lula North. The Libra product sharing agreement continues to progress with an extended well test as well as the Mero 1 FPSO, and additional FPSOs are planned. Shell also has development drilling planned for its operated, Gato do Mato South field in 2019.

Shell has a 25 percent stake in the Lula consortium, operated by Petrobras (65 percent). Galp, through its subsidiary Petrogal Brasil, holds the remaining 10 percent interest.