Libra Consortium announced the final investment decision to contract the Mero-2 floating production, storage and offloading (FPSO) vessel to be deployed at the Mero field offshore Santos Basin in Brazil.
The FPSO will have a capacity to process up to 180,000 barrels of oil per day. The consortium plans four new production systems to be deployed in the Mero field. Mero-2 is the second, with first oil expected in 2022.
“Shell is the largest foreign producer in Brazil, which has become a heartland for us. Mero-2 is the latest in a series of FPSOs that will come online,” Andy Brown, Upstream Director, Royal Dutch Shell, said. “From production to development, appraisal and exploration, we have a full funnel of long-life, resilient growth opportunities in the country, which is home to some of the best deep-water basins in the world.”
As one of Shell’s core upstream themes, deep water is set to generate robust cash flow for decades to come. Shell’s global deep-water business has a strong funnel of development and exploration opportunities in Brazil, the US, Mexico, Nigeria, Malaysia, Mauritania, and the Western Black Sea. Production worldwide is on track to reach more than 900,000 BOE/d by 2020 from already discovered, established reservoirs.