Shell invests in the Gato do Mato project in Brazil’s pre-salt

Shell Brazil Petróleo Ltda. (Shell Brazil), a subsidiary of Shell plc, has taken the Final Investment Decision (FID) for Gato do Mato, a deep-water project in the pre-salt area of the Santos Basin, offshore Brazil.

The Gato do Mato Consortium includes Shell (operator with a 50% stake), Ecopetrol (30%), TotalEnergies (20%) and Pré-Sal Petróleo S.A. (PPSA) acting as the manager of the production sharing contract (PSC). The development plan includes the installation of a floating production storage and offloading (FPSO) vessel and is designed to produce up to 120,000 barrels of oil per day. Current estimated recoverable resource volumes of the Gato do Mato development are approximately 370 million barrels.

“Gato do Mato is an example of our ongoing investment in increasingly efficient projects,” said Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director. “The project contributes to maintaining stable liquids production from our advantaged Upstream business, and expands our leadership as the largest foreign producer in Brazil as we continue working to provide for the world’s energy needs well into the future.”

The consortium anticipates that the Gato do Mato field will commence operations in 2029.