Shell Expands Brazil-operated Footprint with New Deepwater Blocks

Graphic for News Item: Shell Expands Brazil-operated Footprint with New Deepwater Blocks

Shell Brasil Petroleo, a subsidiary of Royal Dutch Shell plc (Shell), today won four additional deep-water exploration blocks in the Campos and Potiguar basins, bringing its total operated presence offshore Brazil to 18 blocks. In the 15th deep-water bid round organized by the Brazilian National Petroleum Agency (ANP), Shell secured one exploration block on its own, and three in joint-bids with Chevron Brazil, Petrobras, and Petrogal Brasil. Of the newly acquired blocks today, Shell will operate two.

Shell will pay its share of the total signing bonuses, equating for all bids to approximately $70-million (R$ 235-million).

Globally, Shell plans to invest $5-6 billion each year through 2020 into its deep water business to strategically grow production and returns for the company. The business is on track to deliver annual, free flow of $6-7-billion by 2020 (at $60/bbl Brent RT 2016).

New acreage added to Shell Brasil’s portfolio

Campos basin:

C-M-791 – Shell Brasil (40% – operator), Petrogal Brasil (20%), Chevron Brazil (40%)

Potiguar basin:

POT-M-948 – Shell Brasil (100%)

POT-M-859 – Petrobras (60%), Shell Brasil (40%)

POT-M-952 – Petrobras (60%), Shell Brasil (40%)

Source: www.worldoil.com

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