Libra Consortium announced today the final investment decision to contract the Mero-2 floating production, storage and offloading (FPSO) vessel to be deployed at the Mero field offshore Santos Basin in Brazil.
The FPSO will have a capacity to process up to 180 000 bpd. The consortium plans four new production systems to be deployed in the Mero field. Mero-2 is the second, with first oil expected in 2022.
“Shell is the largest foreign producer in Brazil, which has become a heartland for us. Mero-2 is the latest in a series of FPSOs that will come online,” said Andy Brown, Upstream Director, Royal Dutch Shell. “From production to development, appraisal and exploration, we have a full funnel of long-life, resilient growth opportunities in the country, which is home to some of the best deep-water basins in the world.”
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/12062019/libra-consortium-takes-final-investment-decision-on-mero-2-fpso-in-brazils-presalt/
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Part of the company's 10-year plan includes a free cash flow of approximately US$50 billion based on a real WTI price of US$50/bbl and annual capital expenditures averaging less than US$7 billion over the decade.