Shell's subsidiary, Shell Brasil Petroleo, has won four additional deep-water exploration blocks in the Campos and Potiguar basins offshore Brazil.
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 said it will pay its share of the total signing bonuses, equating for all bids to approximately US$70 million.
“We continue to demonstrate our commitment to growing our production in Brazil and our strong belief in the value deep-water resources brings to our global portfolio,” said Andy Brown, Upstream Director, Shell. “This bid round offers significant potential for additional deep-water discoveries. These lease commitments fall within our agreed capital ceiling and are consistent with our value-based approach.”
Shell now has 18 operated blocks offshore Brazil.
New Acreage added to Shell Brasil’s Portfolio
C-M-791 – Shell Brasil (40 per cent - operator), Petrogal Brasil (20 per cent), Chevron Brazil (40 per cent)
POT-M-948 – Shell Brasil (100 per cent)
POT-M-859 – Petrobras (60 per cent), Shell Brasil (40 per cent)
POT-M-952 – Petrobras (60 per cent), Shell Brasil (40 per cent)