Shell along with its partners, will increase production with two new deepwater projects at Parque das Conchas (BC-10) and the Bijupirá/Salema fields in Brazil.
Shell and its partners Petrobras and ONGC have decided to move forward with Phase 3 of the Parque das Conchas (BC-10) project, which will include the installation of subsea-infrastructure at the Massa and Argonauta O-South fields.
The fields will be tied-back to the Espírito Santo – the floating, production, storage and offloading vessel (FPSO), situated at the center of the Parque das Conchas development.
Shell Upstream Americas Deep Water executive vice president John Hollowell said, "Offshore Brazil is a key part of our plans to grow our deepwater portfolio – a key component of our global strategy."
"We look forward to continuing the work with our partners in offshore Brazil to develop the resources in a safe and responsible way," Hollowell added.
Once online, the Phase 3 of the BC-10 project is likely to reach a peak production of 28,000 barrels of oil equivalent (boe) per day, where Shell will have 50%, Petrobras 35%, and ONGC 15% share.
The BC-10 project, which came on-stream in 2009, has produced more than 70 million boe.
The Phase 2 of the project, to tie-in the Argonauta O-North field, continues to progress and is expected to come online late 2013 with a peak production of 35,000 boe per day, where Shell will have 50%, Petrobras 35%, and ONGC 15% share.