Shell has finalized the concession agreements it secured during ANP’s 5th Permanent Offer Cycle in June, reinforcing its strategic footprint in the Santos Basin and broadening its deepwater operations. The S-M-1819, S-M-1821, S-M-1912, and S-M-1914 blocks give the company full (100%) ownership, along with a seven-year exploration period followed by 27 years of production rights.
The signing bonuses amount to roughly R$ 21.3 million. According to the company, this move underscores Shell’s dedication to Brazil’s energy security and brings its portfolio in the country to a total of 72 contracts.
