Libra Consortium announces first production at Mero Field's FPSO Sepetiba in Brazilian pre-salt

RIO DE JANEIRO, Dec. 31, 2023 /PRNewswire/ — Shell Brasil Petróleo Ltda. (Shell Brasil), a subsidiary of Shell plc, announces the start of production of the FPSO Sepetiba in the Mero field, offshore Santos Basin in Brazil. The FPSO Sepetiba, also known as Mero-2, has an operational capacity of 12 million cubic meters of natural gas and 180,000 barrels of oil per day and is connected to six production and six injector wells to the field, in the first wave. Technology applied in the construction and operation of the FPSO will increase production efficiency and contribute to emissions reductions.

“The FPSO Sepetiba development leverages our world-class partnership with Petrobras and reinforces our presence in one of the most productive fields in Brazil,” said Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director. “This project aligns with Shell’s Powering Progress strategy and our commitment to leverage increasingly efficient and competitive developments in our heartlands to provide safe, secure energy supplies today and for decades to come.”

The FPSO Sepetiba is located 180 kilometres from the coast of Rio de Janeiro in a water depth of 2,050 meters. Its predecessor, the FPSO Guanabara, also known as Mero-1, announced first production in April of 2022. The consortium plans to receive two more FPSOs by the middle of the decade. Shell’s world-leading Deep Water business comprises two prolific basins in the US and Brazil and an exciting exploration portfolio, with a sustained track record of strong cash generation and operational performance.

Notes to editors

Shell Brasil Petróleo Ltda. is a subsidiary of Shell plc.
Final Investment Decision (FID) on Mero-2 was announced in 2019.
The Mero field is part of the Libra Production Sharing Contract (PSC), signed in Dec 2013. Libra is located in the Santos basin, 150-180 km south of Rio de Janeiro in 1900-2100m of water depth.
SBM Offshore is responsible for the engineering, procurement, construction, mobilization, installation, and operation of FPSO Sepetiba, including topsides processing equipment as well as hull and marine systems.
Shell Brasil holds a 19.3 percent stake in Mero Unitized Field, along with Petrobras (operator), with a 38.6 percent stake, TotalEnergies (19.3 percent), CNPC (9.65 percent), CNOOC (9.65 percent), and PPSA (3.5 percent), representing the Government in the non-contracted area.

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Forward-Looking Statements

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Shell’s net carbon intensity

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Forward Looking Non-GAAP measures

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