Shell signs production sharing contract for the Atapu field in Brazil

RIO DE JANEIRO, April 27, 2022 /PRNewswire/ — Today, Shell Brasil Petróleo Ltda. (Shell Brasil), a subsidiary of Shell plc, has signed the Production Sharing Contract (PSC) to officially acquire a 25% interest in the Atapu field. Shell paid $1.1 billion to Petrobras for increasing the stake in the field. With the contract now signed, Shell will begin to receive its additional share of oil from the field.

Shell oil company logo. (PRNewsFoto/Shell Oil Company)

“This transaction is the latest proof of our commitment to strengthening our privileged deepwater positions in Brazil“, said Zoe Yujnovich, Shell’s upstream director. “With a world-leading deepwater portfolio, this stake in the Atapu field directly supports our Powering Progress strategy to deliver the stable and secure energy resources the world needs. needs today while investing in the energy of the future.”

Shell’s Powering Progress strategy includes increased investment in low-carbon energy solutions, while continuing to pursue the most resilient, competitive and cost-effective upstream investments to maintain strong cash delivery in the 2030s, to support our dividend and fund Shell’s transformation. Our global deepwater portfolio represents two key positions in our Upstream business with prolific basins in the United States and Brazilas well as an exciting frontier exploration portfolio in MexicoSuriname, Argentinaand West Africa.

Notes to Editors

  • Shell Brasil Petroleo is a subsidiary of Shell plc.

  • In December 2021 in the rights transfer auction, Shell with its partners Petrobras (52.5%, operator) and TotalEnergies (22.5%) acquired the rights to the volumes of the Atapu field.

  • Atapu is a pre-salt oilfield in the Santos Basin located at depths of approximately 2,000 meters. Production began in 2020 using the P-70 floating, production, storage and offloading (FPSO) unit which has the capacity to produce 150,000 barrels of oil equivalent (boe) per day.

  • For more details on Shell’s Powering Progress strategy, please visit www.shell.com/poweringprogress.

Caution

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SOURCE Shell Brazil

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