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Shell Makes Discovery in Pre-Salt in Santos Basin

Written by Paulo Nogueira
Published on 22/11/2019 at 12:32
Shell faz descoberta no pré-sal na Bacia de Santos
shell, engenheiro, petróleo, rio de janeiro
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Discovery is in the Pre-Salt of the Santos Basin in the Alto de Cabo Frio Oeste Block, Drilling Started with the Brava Star Rig from Constellation

Shell found indications of hydrocarbons in the Alto de Cabo Frio Oeste block in the pre-salt of the Santos Basin. The discovery occurred at well 1-SHEL-31-RJS, which began drilling a little over a month ago with the Brava Star rig from Constellation, in water depth of 1,720 meters. Colombian Ecopetrol buys 30% of Gato do Mato from Shell in the pre-salt.

In September of this year, the oil company received a license to drill up to three exploratory wells in the Alto de Cabo Frio Oeste block. The deadline for completing its first exploratory phase expires in January 2025.

At that time, the consortium formed by the Anglo-Dutch company (55%), the Chinese CNOOC (20%), and QPI Brasil (25%) from Qatar won the auction for the area by presenting an offer of 22.87% in excess oil to the Union, the minimum percentage established by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) in the bidding notice. The group also paid R$ 350 million in signing bonuses for the block.

Including Shell’s discovery, the number of wells with indications of oil and/or natural gas in the country has reached 13 in 2019.

The list includes discoveries in two other production sharing areas: Peroba, operated by Petrobras, and Norte de Carcará (Equinor).

Besides the Alto de Cabo Frio Oeste block, in the Santos Basin, Shell also acquired other blocks as an operator in sharing rounds: South of Gato do Mato, where it has already drilled one well, and Saturno, where it is expected to start a campaign in 2020.

Expectations

The company’s expectations for Brazil are positive. In a conference with analysts on January 31 of this year, Shell CEO Ben van Beurden stated that he is willing to take on more risks in the country.

“Brazil is among the top three most important countries for us in terms of value and cash flow. We are extremely happy with our position,” Beurden said.

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Paulo Nogueira

Graduated in Electrical Engineering from one of the country's technical education institutions, the Instituto Federal Fluminense - IFF (formerly CEFET), he worked for several years in the offshore oil and gas, energy, and construction sectors. Today, with over 8,000 publications in online magazines and blogs on the energy sector, the focus is to provide real-time information on the Brazilian job market, macro and microeconomics, and entrepreneurship. For questions, suggestions, and corrections, please contact us at informe@clickpetroleoegas.com.br. Please note that we do not accept resumes at this contact.

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