Shell declares 2 Brazilian blocks viable

Dec 29, 2006 01:00 AM

Shell has declared two accumulations of heavy oil in Block BS-4, in Brazil's Santos basin, to be commercially viable.
The Anglo-Dutch supermajor was working to meet an end-of-year deadline to decide whether to relinquish the block to the government's National Petroleum Agency or proceed with further evaluations and definition of the development concept at the deep-water block.

The declaration of commerciality followed a recent flow test carried out by Transocean drillship Deepwater Navigator.
"More work is needed to further evaluate the discoveries and define a field development concept that is considered economic," said John Haney, Shell Brazil exploration and production vice president.

Shell has outlined production concepts to Brazilian service companies, indicating that the company is likely to opt for a spar or tension-leg platform solution, with dry completion. However, first oil is not expected until after 2010.
Shell has said the two discoveries on the block point to oil inplace estimated at 1.6 bn barrels, but the crude is sour, located in a water depths of between 1,500 and 1,800 metres, and graded at between 14 and 15 degrees-API.

Shell is partnered on Block BS-4 by Petrobras (40 %) and Chevron (20 %).
The company is currently developing a four-field complex of heavy oil accumulations on the former Block BC-10, in the Campos basin.

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