Shell Brasil Petróleo Ltda, a subsidiary of Shell plc, has secured additional equity in Brazil’s pre-salt oil projects following an auction led by Pré-Sal Petróleo. Together with Petrobras, Shell Brasil deepened its stake in Atapu and Mero units, acquiring 26.76% of Atapu Open Acreage (0.95% of the unit) and 20% of Mero Open Acreage (3.5% of the unit).
With this acquisition, Shell Brasil increased its participating interest in the units from 16.663% to 16.917% in Atapu and from 19.3% to 20% in Mero. Both projects are located in the offshore Santos Basin.
“Today’s winning bid reinforces our disciplined approach to grow Shell’s high margin portfolio in Brazil,” said Peter Costello, Shell’s Upstream President. “Our assets in Brazil are among the most competitive in our global portfolio, combining strong performance with a low carbon footprint.”
This investment strengthens Shell’s position in areas where we have existing assets and supports the company’s aim to sustain material liquids production of 1.4 million barrels per day through 2030. The increased working interest is expected to take effect from 2027.
