Shell adds new, deepwater production in Brazil

10/24/2018
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The FPSO P-69 is a standardized production vessel offshore Brazil with a capacity for 150,000 bbl of oil and 6 MMcmgd. Photo: Shell.

THE HAGUE -- New, deepwater production is underway today at Lula Extreme South in the Brazilian Santos basin. Royal Dutch Shell plc, through its subsidiary Shell Brasil Petróleo Ltda. (Shell) and consortium partners, announces that the FPSO P-69 is now producing.

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

“The Brazilian pre-salt fields are some of the best deepwater provinces in the world,” said Andy Brown, upstream director for Shell. “With significant flowrates, deepwater Brazil projects are breaking even under $40/bbl. We commend Petrobras on this production milestone, and we look forward to progressing additional development plans with our consortium partners as well as for our recently-acquired, deepwater Brazil blocks.”

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% stake in the Lula consortium, operated by Petrobras (65%). Galp, through its subsidiary Petrogal Brasil, holds the remaining 10% interest.

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