- The Atapu Consortium announced the final investment decision for the Atapu-2 project, a second floating production, storage and offloading (FPSO) vessel to be deployed at the Atapu field, within the offshore Santos basin in Brazil.

Atapu-2 will have a maximum operational capacity of 225,000 barrels of oil per day. In addition to 16 new wells, four existing wells will be re-routed from the P70 FPSO (Atapu-1). The new unit will feature all-electric capability, aimed at lowering carbon intensity for production processes.

“Atapu-2 is another example of our commitment to invest in higher margin, lower carbon opportunities for our advantaged Upstream business,” said Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director. “As the largest foreign producer in Brazil, this project reinforces both the importance of Brazil within our global deep-water portfolio, as well as our strategic partnership with Petrobras worldwide.”

The Atapu consortium includes Petrobras (65.7% - Operator), Shell (16.7%), TotalEnergies (15%), Petrogal Brasil (1.7%) and PPSA (0.9%).

Notes:

  - Shell Brasil Petróleo Ltda. is a subsidiary of Shell plc.
  - In 2021, Shell acquired a 25% interest in the e-TOR (representing 12.4% working interest in the Atapu unit). This was in addition to the 4.3% working interest in the Atapu unit that Shell already owned through the BMS11A concession. In total, Shell owns a 16.7% working interest in the Atapu unit.
  - Atapu-2 is a mixture of a tax/royalty concession (BMS11a - 4.3% WI in the Atapu unit) and Production Sharing Agreement (e-TOR 12.4%).
  - Atapu is a pre-salt oil field in the Santos Basin located in waters depths of about 2,000 meters. Production started in 2020 through the P-70 Floating, Production, Storage and Offloading unit (FPSO) which has the capacity to produce 150,000 barrels of oil per day.

About Shell plc

Shell plc (FTSE: SHEL) (AMS: SHELL) (NYSE: SHEL) is incorporated in England and Wales, has its headquarters in London and is listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 70 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects.