Shell PLC and its partners have agreed on a final investment decision to proceed with the Gato do Mato deepwater development in the pre-salt area of Brazil’s Santos Basin.
The project will produce up to 120,000 barrels of oil per day (bopd) through a floating production, storage and offloading (FPSO) vessel, the British energy giant said in an online statement. Shell estimates recoverable resources to be 370 million barrels.