Shell recently said that oil is being produced from its drilling in the third phase of its deep-water project, Parque das Conchas, in Brazil’s Campos Basin.
The oil conglomerate expects the project to add about 20,000 barrels of oil per day during peak production. The fields have produced about 100 million barrels since 2009.
"The safe, early delivery of this production is a testament to the efficiency of our deep-water project execution," Wael Sawan, Shell's Deep Water Executive Vice President, said. "With this phased project, we have again demonstrated value from standardization, synergies from contractual relationships and the strategic deployment of new technologies. These barrels, like other subsea tieback opportunities across our deep-water portfolio, have development cost advantages and will contribute to the strong production growth we expect from offshore Brazil."
The project, which is located about 90 miles off the coast of Brazil, has five wells that produce oil in two separate Campos Basin fields, as well as two water injection wells. The wells go down to approximately 5,900 feet. The oil is stored on a nearby vessel, the Espirito Santo.