Company News

Total : Shell to begin drilling in Brazil's Gato do Mato block in 2019

4-traders
14/11/2017 13:55
Visualizações: 2301 (0) (0) (0) (0)

Royal Dutch Shell Plc's <RDSa.L> Brazil chief said on Monday that the oil major plans to begin drilling in 2019 in an offshore block in the coveted pre-salt layer that it won in an auction last month with France's Total (>> Total).

 

"We already drilled in the area. We know how to do it. We have the experience. So it is just about putting in place everything that we already have in order to not waste time," Andre Araujo, Shell's Brazil unit head, told reporters on the sidelines of an event in Rio de Janeiro.

 

The block, South Gato do Mato, is adjacent to a prospect that Shell and Total are already exploring jointly. Shell is operator in both areas with an 80 percent stake.

 

Araujo said it was too soon to forecast when the first oil might be produced there, but reiterated that the company is committed to investing an average of $2 billion (£1.5 billion) a year in Latin America's top economy through 2020.

 

Shell won half the blocks awarded in Brazil's deepwater auction in October in a historic opening of the pre-salt play to foreign operators. Billions of barrels of oil are trapped below thousands of feet of salt in the country’s Atlantic waters.

 

Wael Sawan, executive vice president for Shell's deepwater division, told Reuters the company was confident it could pump oil from the fields on offer for less than $40 a barrel.

 

During the event, Araujo also said the company is looking for opportunities in renewable energy in Brazil, which could be through acquisitions or working with partners.

 

"There are a lot of companies that believe that renewable energy in Brazil will grow, that there are business opportunities. Why not go in?" he said, adding that Raízen, partly owned by Shell, already invests in the sector.

 

Raízen is a 50-50 joint venture between Shell and Cosan SA Indústria e Comércio (>> Cosan SA Industria e Comercio), a Brazilian energy and infrastructure group. Besides being the world's largest sugar producer, Raízen is a large ethanol maker and generates electricity from biomass by burning dried-crushed cane at power plants adjacent to the mills.

Most Read Today
see see
Recognition
IBP Wins the “Events Oscar” Once Again with ROG.e 2024
11/12/25
FIRJAN
Rio Could Generate 676,000 New Jobs by Stimulating Nine ...
11/12/25
Inland Navigation
Grease-Free Revolution in Latin America’s Workboat Sector
10/12/25
PPSA
Production-Sharing Contracts to Produce 2 Million Barrel...
10/12/25
Recognition
National Public Transparency Program Grants Transpetro I...
10/12/25
Logistics
Transpetro expands its logistics operations with the int...
09/12/25
Auction
PPSA raises around R$ 8.8 billion from the sale of the F...
08/12/25
PPSA
Petrobras announces results of PPSA’s Non-Contracted Are...
08/12/25
Niterói
Niterói concludes second edition of Tomorrow Blue Econom...
02/12/25
Recognition
ABS Consulting Earns Third Elev8 GovCon Honor for Excell...
22/11/25
Award
Aed Energy Wins at the 2025 Energy Storage Awards
22/11/25
Mossoró Oil & Gas Energy 2025
PetroSupply Meeting to Boost Business at Mossoró Oil & G...
21/11/25
Results
Union’s Oil Production Reached 174 Thousand Barrels per ...
21/11/25
International Company News
TGS Extends Agreement with the Government of the Federal...
21/11/25
Company News
Belga Marine and Global Maritime Announce Strategic Part...
21/11/25
Niterói
Tomorrow Blue Economy sets Niterói in motion in the coun...
13/11/25
Cop30
ANP Participates in the Event and Advances Measures for ...
13/11/25
FIRJAN
Enaex 2025 Discusses Reindustrialization, Brazil’s Compe...
13/11/25
Mossoró Oil & Gas Energy 2025
Mossoró Oil & Gas Energy to Feature Strategic Debates in...
13/11/25
Company News
Norsul becomes the first company in Latin America to ado...
11/11/25
ADIPEC 2025
From energy to intelligence to impact: ADIPEC 2025 sets ...
07/11/25
VEJA MAIS
Newsletter TN

Contact us

We use cookies to ensure you have the best experience on our website. If you continue to use this site, we will assume that you agree with our Privacy Policy, terms of use and cookies.