FPSO start-up for Shell at mammoth field in Brazil

South Ameic
South Ameic

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.