Shell Announces Final Investment Decision for Major Brazil Oil Field, Set for 120,000 Barrels/Day

Shell PLC‘s (NYSE:SHEL) subsidiary, Shell Brasil Petróleo Ltda., made the Final Investment Decision (FID) for the Gato do Mato project.

The project is a deep-water initiative located in the pre-salt region of the Santos Basin offshore Brazil.

The Gato do Mato Consortium is composed of Shell (the operator with a 50% stake), Ecopetrol (30%), TotalEnergies (20%) and Pré-Sal Petróleo S.A. (PPSA), which manages the production sharing contract (PSC).

The development plan involves installing a floating production storage and offloading (FPSO) unit designed to produce up to 120,000 barrels of oil per day.

The current estimated ...