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Shell Requested the Operating License from Ibama for the Offshore Drilling Activity in the Alto de Cabo Frio Oeste Block, Santos Basin Last October.
Shell Received the License from Ibama for Drilling Up to Three Exploratory Wells in the Alto de Cabo Frio Oeste Block, in the Pre-Salt of the Santos Basin. The License Provides for the Drilling of the Wells by the Brava Star Rig and Is Valid for Four Years. Shell Plans to Invest About US$ 2 Billion Per Year Until 2025 in Brazil.
The Company Requested the Operating License from Ibama for the Offshore Drilling Activity in the Alto de Cabo Frio Oeste Block, Last October.
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According to a Statement from Shell, Ibama Determined That the Company Conduct an Environmental Drilling Study to Obtain the License.
Alto de Cabo Frio Oeste Was Acquired in the Third Round of Production Sharing in 2017. At That Time, the Consortium Formed by Anglo-Dutch (55%), Chinese CNOOC (20%), and QPI (25%) from Qatar Won the Auction for the Area With a 22.87% Offer in Oil Excess for the Union, the Minimum Percentage Established by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) in the Bidding Document. The Group Also Paid R$ 350 Million in Signing Bonuses for the Block.
The Company’s Exploration Plan in the Alto de Cabo Frio Oeste Area, in the Pre-Salt of the Santos Basin, Was Approved in February This Year by the ANP. At That Time, the Oil Company Stated That It Planned to Start Drilling in 2019.
Expectations
The Company’s Expectations for Brazil Are Positive. In a Conference With Analysts on January 31 of This Year, Shell’s CEO, Ben van Beurden, Stated That He Is Willing to Take on More Risks in the Country.
“Brazil Is Among the Three Most Important Countries for Us in Terms of Value and Cash Flow. We Are Extremely Happy With Our Position,” Said Beurden.
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