rigzone.com: Shell Confirms E&P Investments of US$120mn in 2005: Anglo-Dutch oil company Shell will spend US$120mn on exploration and production in Brazil next year, part of US$200mn overall investment in the country, a company spokesperson told BNamericas, confirming local press reports. (ShellNews.net) 9 Nov 04

Most of the money will be used to continue appraisal of regions licensed to the company, as well as production maintenance in Shell's fields, the spokesperson said.

"A small amount will be spent to start exploration in the fields that we obtained in the sixth licensing round [in August] as the contracts have still to be signed," the spokesperson said.

The company will however concentrate on two important blocks in the Campos and Santos basins, which are still being appraised.

In the Campos basin Shell plans to continue exploration of the BC-10 block and could declare its commercial viability in 2005, the spokesperson said. BC-10 is a deepwater block off the coast of Rio de Janeiro state where Shell has been reporting oil finds to ANP since being awarded the block in 2000. One of the finds included natural gas.

The shallowest find was at water depths of 1,555 meters. The company has reported at least 10 finds in the block, the last of which was in July 2003.

The BS-4 is also a deepwater block awarded to Shell. The company has reported few finds there at water depths of 1,557 meters.

There are no expectations as to when the company could declare BS-4 commercially viable, the spokesperson said.

In Round 6, Shell acquired interests in six blocks: three in the Santos basin, two in the Espírito Santos basin and one in the Campos basin.

The company is prepared to bid in next year's Round 7 to boost its Brazil portfolio, the spokesperson added.

Shell operates five exploration blocks and has interests in a total of 16 blocks spread out between the Espírito Santo, Santos and the frontier Foz do Amazonas basins.

It also has interests in two producing blocks - the Merluza and Bijupirá Salema fields in the Campos basin, where it currently produces 55,000 barrels of oil a day.

Anglo-Dutch oil company Shell (NYSE: SC) will spend US$120mn on exploration and production in Brazil next year, part of US$200mn overall investment in the country, a company spokesperson told BNamericas, confirming local press reports.

Most of the money will be used to continue appraisal of regions licensed to the company, as well as production maintenance in Shell's fields, the spokesperson said.

"A small amount will be spent to start exploration in the fields that we obtained in the sixth licensing round [in August] as the contracts have still to be signed," the spokesperson said.

The company will however concentrate on two important blocks in the Campos and Santos basins, which are still being appraised.

In the Campos basin Shell plans to continue exploration of the BC-10 block and could declare its commercial viability in 2005, the spokesperson said. BC-10 is a deepwater block off the coast of Rio de Janeiro state where Shell has been reporting oil finds to ANP since being awarded the block in 2000. One of the finds included natural gas.

The shallowest find was at water depths of 1,555 meters. The company has reported at least 10 finds in the block, the last of which was in July 2003.

The BS-4 is also a deepwater block awarded to Shell. The company has reported few finds there at water depths of 1,557 meters.

There are no expectations as to when the company could declare BS-4 commercially viable, the spokesperson said.

In Round 6, Shell acquired interests in six blocks: three in the Santos basin, two in the Espírito Santos basin and one in the Campos basin.

The company is prepared to bid in next year's Round 7 to boost its Brazil portfolio, the spokesperson added.

Shell operates five exploration blocks and has interests in a total of 16 blocks spread out between the Espírito Santo, Santos and the frontier Foz do Amazonas basins.

It also has interests in two producing blocks - the Merluza and Bijupirá Salema fields in the Campos basin, where it currently produces 55,000 barrels of oil a day.

Anglo-Dutch oil company Shell (NYSE: SC) will spend US$120mn on exploration and production in Brazil next year, part of US$200mn overall investment in the country, a company spokesperson told BNamericas, confirming local press reports.

Most of the money will be used to continue appraisal of regions licensed to the company, as well as production maintenance in Shell's fields, the spokesperson said.

"A small amount will be spent to start exploration in the fields that we obtained in the sixth licensing round [in August] as the contracts have still to be signed," the spokesperson said.

The company will however concentrate on two important blocks in the Campos and Santos basins, which are still being appraised.

In the Campos basin Shell plans to continue exploration of the BC-10 block and could declare its commercial viability in 2005, the spokesperson said. BC-10 is a deepwater block off the coast of Rio de Janeiro state where Shell has been reporting oil finds to ANP since being awarded the block in 2000. One of the finds included natural gas.

The shallowest find was at water depths of 1,555 meters. The company has reported at least 10 finds in the block, the last of which was in July 2003.

The BS-4 is also a deepwater block awarded to Shell. The company has reported few finds there at water depths of 1,557 meters.

There are no expectations as to when the company could declare BS-4 commercially viable, the spokesperson said.

In Round 6, Shell acquired interests in six blocks: three in the Santos basin, two in the Espírito Santos basin and one in the Campos basin.

The company is prepared to bid in next year's Round 7 to boost its Brazil portfolio, the spokesperson added.

Shell operates five exploration blocks and has interests in a total of 16 blocks spread out between the Espírito Santo, Santos and the frontier Foz do Amazonas basins.

It also has interests in two producing blocks - the Merluza and Bijupirá Salema fields in the Campos basin, where it currently produces 55,000 barrels of oil a day.

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