Shell Begins Deep-Water Production in Brazil with Project Partners

- February 5th, 2019

Royal Dutch Shell’s Brazilian subsidiary, has commenced production at the Lula North deep-water project in the Brazilian Santos Basin.

Royal Dutch Shell’s Brazilian subsidiary Shell Brasil Petróleo, has commenced production with its consortium partners  at the Lula North deep-water project in the Brazilian Santos Basin.

As quoted from the press release:

Production at Lula North is processed by the P-67 floating production and storage offloading vessel (FPSO) and is operated by Petrobras.  The production hub is the seventh FPSO deployed at Lula and the third in a series of standardized vessels built for the consortium. It is designed to process up to 150,000 barrels of oil and 6 million cubic meters of natural gas per day.

Shell and its partners began production at Lula Extreme South with the P-69 FPSO in October 2018.

Shell has a 25 percent stake in the Lula consortium, operated by Petrobras (65 percent). Galp, through its subsidiary Petrogal Brasil, holds the remaining 10 percent interest. Discovered in 2006, Lula is the largest producing field in Braziland accounts for 30 percent of the country’s oil and gas production.

Click here to read the full announcement

Profit off the coming market correction

 
Read our new free report today
 

Tags

Leave a Reply

Your email address will not be published. Required fields are marked *