Shell Says New Deep-Water Production Underway in Brazil
October 24 2018 - 11:15AM
Dow Jones News
By Oliver Griffin
Royal Dutch Shell PLC (RDSB.LN) said Wednesday that new
deep-water production is underway at P-69, a floating production
storage and offloading installation in Brazil's Santos Basin.
Shell said the deepwater installation is operated by the Lula
consortium, which includes its subsidiary Shell Brasil Petroleo
Ltda., Petroleo Brasileiro SA (PBR)--Brazil's semi-public petroleum
company--and Galp Energia SGPS S/A (GALP.LB), through its
subsidiary Petrogal Brasil.
Operated by Petrobras, P-69 can produce up to 150,000 barrels of
oil and 6 million cubic meters of gas each a day.
Shell has a 25% stake in the Lula consortium, while Petrobras
and Galp hold 65% and 10% respectively.
Write to Oliver Griffin at oliver.griffin@dowjones.com;
@OliGGriffin
(END) Dow Jones Newswires
October 24, 2018 11:00 ET (15:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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