Production of an FPSO for Shell has started at a huge oil and gas field in Brazil.
Operated by Petrobras, the P-69 floating production, storage and offloading vessel is operating at the Lula field in the Santos Basin.
The P-69 can process 150,000 barrels of oil and six million cubic feet of gas per day.
Upstream director Andy Brown said: “The Brazilian pre-salt fields are some of the best deep-water provinces in the world.
“With significant flow rates, deep-water Brazil projects are breaking even under $40 per barrel.
“We commend Petrobras on this production milestone, and we look forward to progressing additional development plans with our consortium partners as well as for our recently-acquired, deep-water Brazil blocks.”
The Lula consortium is operated by Petrobras with a 65% stake, Shell holds 25% and Petrogal Brasil has the remaining 10%.
The Santos Basin is estimated to hold around 30billion barrels of oil, according to the American Association of Petroleum Geologists.
Lula has estimated recoverable reserves of 6.5billion barrels.
P-69 is Shell’s 14th deep-water FPSO in Brazil.
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