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Shell Oil Company Begins Offshore Drilling in Saturn Block, Santos Basin
Despite the not-so-favorable scenario for the oil and gas industry, Shell has been able to advance by drilling its first well in the Saturn block, in the Santos Basin.
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The drilling of the well in the area began in recent days, using the drillship Brava Star, from Constellation. The water depth, or drilling depth, was 2,069 meters.
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The Saturn block was acquired by Shell in the 5th Sharing Round at the end of 2018. The company is the operator of the asset with a 50% stake, in partnership with Chevron, which holds the other 50% of the asset. Saturn was the area, along with Titan, with the highest signature bonus in the auction, valued at R$ 3.125 billion.
The ongoing global crisis caused by the coronavirus and the drop in oil prices are directly impacting the drilling of new oil and gas wells. In the United States, for example, the number of active oil rigs is the lowest in the country’s history over the past 80 years.
