Shell invests in the Gato do Mato project in Brazil’s pre-salt
Shell Brasil Petróleo Ltda. (Shell Brasil), a subsidiary of Shell plc, has announced the Final Investment Decision (FID) for the Gato do Mato project—a deepwater oil and gas field in the Santos Basin, offshore Brazil. This marks another step in the company’s strategy to strengthen its presence in Brazil’s energy sector.
In brief
Shell Brasil has taken the final investment decision for the Gato do Mato deepwater oil and gas project in the Santos Basin off the coast of Brazil. The Gato do Mato consortium comprises Shell as operator with a 50 percent stake, Ecopetrol with 30 percent and TotalEnergies with 20 percent, with the participation of Pré-Sal Petróleo S.A. The FPSO unit will allow production of up to 120,000 barrels of oil per day, and recoverable resources are estimated at around 370 million barrels. Production start at the Gato do Mato project is scheduled for 2029.
Investment in the future of production
The consortium responsible for the project consists of Shell (operator, 50% stake), Ecopetrol (30%), TotalEnergies (20%), and Pré-Sal Petróleo S.A. (PPSA), which manages the production-sharing contract (PSC). The development plan includes the installation of a floating production storage and offloading (FPSO) vessel, with a planned production capacity of up to 120,000 barrels of oil per day. Estimated recoverable reserves for the Gato do Mato field amount to approximately 370 million barrels.
- Gato do Mato is a key investment in our efficient project portfolio, said Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director. - This will enable us to maintain a stable production level in Brazil and strengthen our position as the largest foreign oil producer in the country.
Project details
The Gato do Mato field comprises two adjacent blocks: BM-S-54, awarded in 2005, and Sul de Gato do Mato, which became part of a production-sharing agreement in 2017. The oil field is located at a water depth ranging from 1,750 to 2,050 meters, offshore from Rio de Janeiro.
The initial phase of development will involve reinjecting natural gas to maintain reservoir pressure, with the option of exporting gas to onshore facilities in the future. Reserve estimates are classified under the Petroleum Resources Classification System developed by the Society of Petroleum Engineers (SPE) as P50—indicating a 50% probability that actual reserves will be either higher or lower than the given estimate.
Economic Significance of the Investment
Shell emphasizes that the Gato do Mato project is expected to generate an attractive internal rate of return (IRR), exceeding the company’s Upstream sector requirements. Production is scheduled to commence in 2029.
Gato do Mato is another strategic investment by Shell in Brazil’s pre-salt resources, aimed at strengthening oil and gas production stability and supporting the long-term growth of the regional energy sector.
Source: Gazeta Morska · Compiled by: Kamil Kusier
Related articles
Shipbuilding industry Poland christens ro-pax ferry Bursztyn Unity in Szczecin on Independence Day. Ystad service starts 18 November 
Energy and offshore Orlen Neptun deploys V-LiDAR buoys at Baltic West ahead of Poland's 2027 offshore wind auction 
Energy and offshore Equinor takes over Bałtyk 2 and 3 O&M base in Łeba. Port to serve 1.44 GW of offshore wind for 30 years 
Navy and defence Port Gdański Eksploatacja secures NATO NCAGE code. Gdańsk port company lines up for defence tenders 
Shipbuilding industry Ex-Enterprise towed to Mobile under $418.5m contract. Test case for Nimitz-class disposal begins 
Energy and offshore Energa renames Gdańsk gas plant company as foundations for 6,000-tonne turbine and boiler are laid
Comments (0)
The discussion is moderated by the editors: a comment appears after review. Your e-mail address is not published.
Nobody has commented on this article yet.