By Rafael Bortoloti
Cristiano Pinto da Costa, CEO at Shell, revealed that the company will decide by April whether to invest in the Gato do Mato project. Speaking with journalists this week, Costa indicated that the decision is likely to be positive.
If approved, the FPSO, to be constructed by MODEC will operate at water depths of approximately 2,000 meters, 250 km offshore. The unit will have the capacity to produce 90,000 boe/d and 8.5 million m³ of natural gas per day, with storage capacity for 1.6 million barrels of oil.
The production plan includes 10 wells: four producers, four gas injectors, and two seawater injectors. Shell holds a 70% stake as the operator, partnering with Ecopetrol (30%).
“Shell secured the field in the 2017 ANP auction, with development initially planned for 2023. However, the company postponed the final decision in late 2022,” recalls Daniel Buckley, Chartering Manager at WSB Advisors.
Shell’s Decision on Gato do Mato Expected by April
