Shell Brasil has taken a decisive step in the development of the Gato do Mato project , a major deepwater oil development in the Santos pre-salt basin, offshore Brazil. The Final Investment Decision (FID) has been made, marking the beginning of a critical phase in oil and natural gas production in the region.
The project, which has an estimated investment of up to 120,000 barrels of oil per day , is part of Shell’s global strategy to maintain its leadership as the largest foreign energy producer in Brazil.
The development of the Gato do Mato project
The Gato do Mato Consortium, led by Shell with a 50% stake, includes Ecopetrol (30%), TotalEnergies (20%), and Pré-Sal Petróleo SA (PPSA). Together, they plan to develop two contiguous blocks in the basin, with an estimated production potential of over 370 million barrels. The development plan involves the installation of a floating production, storage, and offloading ( FPSO ) vessel.
With an estimated return on investment exceeding the minimum rate required by Shell’s Upstream business, the Gato do Mato project is designed to further strengthen the company’s presence in Brazil’s dynamic energy market.
The Gato do Mato field is expected to begin operations in 2029, with an initial focus on natural gas reinjection to maintain reservoir pressure. Additionally, the option to export gas to onshore facilities is being considered. This investment is aligned with Shell’s commitment to continue exploring and developing efficient deepwater projects that contribute to meeting long-term global energy needs.
Gato do Mato is an example of our continued investment in increasingly efficient projects.
said Zoë Yujnovich, Integrated Director of Gas and Upstream at Shell.
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Source and photo: Shell
