Shell Cleared to Drill in Gato do Mato, in the Pre-Salt of the Santos Basin

Activity to Be Executed by the Drillship Brava Star of Constellation (Formerly QGOG) Has Been Approved by Ibama This Week and Shell Expects First Oil in 2023

Ibama granted an environmental license this week for the start of Shell’s drilling operations in Gato do Mato, an asset purchased by the oil company in 2017.
The drilling will be carried out by the drillship Brava Star, from the company Constellation (QGOG), and Shell must now present the updated drilling project schedule within 15 days from yesterday (06/24).

The approval from Ibama involves drilling two new exploratory wells and includes a formation test to be conducted in the southern part of Gato do Mato.

The Gato do Mato Asset

The Gato do Mato field is underwater between 2,035 and 2,070 meters and is located about 220 km off the coast of Rio de Janeiro.

Shell owns 80% in partnership with Total (20%) of the exploration block BM-S-54, named Gato do Mato, located in the pre-salt layer of the Santos Basin.
The field will have the installation of an FPSO with a production capacity of 90 thousand barrels per day of oil and 8.5 million cubic meters of natural gas.

The asset was acquired by Shell in 2017 during the 2nd Sharing Round, and the drilling had already been announced by the company’s president for this year.
The president of Shell Brazil, André Araújo, also stated that the first oil from the field is expected in 2023.

Shell plans to invest about US$ 2 billion per year until 2025 in Brazil and according to statements from Shell’s Vice President of Exploration for North America and Brazil, Martin Stauble, during OTC Houston 2019, Brazil is currently the main driver of the oil company’s Capex.

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