tiprankstipranks
Shell Basil starts production at third FPSO in Brazil pre-salt area
The Fly

Shell Basil starts production at third FPSO in Brazil pre-salt area

Shell (SHEL) Brasil Petroleo, a subsidiary of Shell, announced the start of production of the floating production storage and offloading facility, FPSO, Marechal Duque de Caxias in the Mero field, in the pre-salt area of the Santos Basin, offshore Brazil. Also known as Mero-3, the FPSO has an operational capacity of 180,000 barrels of oil per day. “Mero-3 demonstrates our commitment to increasingly efficient and competitive projects,” said Zoe Yujnovich, Shell’s Integrated Gas and Upstream Director. “Brazil is a material contributor to Shell’s deep-water oil and gas production, and through our ongoing partnership with Petrobras in the Mero field, we can help continue to deliver safe and secure energy from one of the country’s most productive fields.”

Don't Miss our Black Friday Offers:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App