Royal Dutch Shell has announced it has produced oil from the second phase of production at its much sought after Parque das Conchas project offshore Brazil.
This phase has seen a fourth reservoir connected to the project's floating production, storage and offloading (FPSO) vessel.
The Parque das Conchas (Park of Shells) project is 50% owned and operated by Shell, with Brazil's state-led Petrobras holding 35% and Indian group ONGC 15%.
With China's Siochem hovering hungrily, Shell and ONGC are rumoured to be planning to buy out Petrobras, as the Brazilian conglomerate looks to divest assets.
Shell's Upstream Americas Executive Vice President for Deep Water, John Hollowell, said the boosting of production with Phase 2 "was a great day" for Shell in Brazil.
"Boosting production at BC-10 with the completion of phase two is another great example of our successful project development, delivery and execution capabilities."
The company explained that Phase 2 is expected to produce roughly 35,000 barrels of oil equivalent (BOE) per day at its peak.
This is equivalent to the peak production from the first phase, where peak production hit more than 90,000 BOE in 2010 but has more recently levelled out at 35,000.
The project's three owners in July announced their decision to move forward with the project's third development phase, which will include the installation of subsea-infrastructure at the Massa and Argonauta O-South reservoirs, pushing peak production to 28,000 BOE.
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This phase has seen a fourth reservoir connected to the project's floating production, storage and offloading (FPSO) vessel.
The Parque das Conchas (Park of Shells) project is 50% owned and operated by Shell, with Brazil's state-led Petrobras holding 35% and Indian group ONGC 15%.
With China's Siochem hovering hungrily, Shell and ONGC are rumoured to be planning to buy out Petrobras, as the Brazilian conglomerate looks to divest assets.
Shell's Upstream Americas Executive Vice President for Deep Water, John Hollowell, said the boosting of production with Phase 2 "was a great day" for Shell in Brazil.
"Boosting production at BC-10 with the completion of phase two is another great example of our successful project development, delivery and execution capabilities."
The company explained that Phase 2 is expected to produce roughly 35,000 barrels of oil equivalent (BOE) per day at its peak.
This is equivalent to the peak production from the first phase, where peak production hit more than 90,000 BOE in 2010 but has more recently levelled out at 35,000.
The project's three owners in July announced their decision to move forward with the project's third development phase, which will include the installation of subsea-infrastructure at the Massa and Argonauta O-South reservoirs, pushing peak production to 28,000 BOE.
LiveCharts
