The Brazilian division of British oil major and lubricant maker Shell has acquired further equity in pre-salt oil projects in Brazil.
At a recent auction, Shell Brazil increased its current stage in the Atapu and Mero offshore units based in the Santos Basin. It increased its participating interest in Mero from 19.3 per cent to 20 per cent and from 16.663 per cent to 16.917 per cent in Atapu.
The additional investment bolsters Shell’s standing in areas where it has existing assets while supporting its goal for sustained material liquid production of up to 1.4 million barrels per day (bpd) in 2030.
Shell’s President for Upstream, Peter Costello, commented on winning the bid, stating that the achievement reinforced the company’s disciplined plan to expand its portfolio in Brazil. He added that Shell’s assets based in Brazil were among its international portfolio’s most competitive and combined a low carbon footprint with robust strong performance.
The successful bid offered by Shell Brazil for Atapu was $50.5 million while the winning bid for Mero $293.4 million. The bid payments will be made in December this year, with execution of the necessary contracts set to be completed in spring 2026. Payment will be made by Shell in Brazilian Reals (BRL).
Both units that Shell has obtained an increased interest in are located off the coast of Brazil and have considerable production capacity. Mero has an output of 770,000 bpd, while Atapu has a capacity of 150,000 bpd, with scope to expand to 225,000 bpd after a new floating production storage and offloading (FPSO) platform is completed.
