Peter Howard Wertheim
RIO DE JANEIRO, Jan. 9 -- Shell Brasil informed Brazil's National Petroleum Agency that the BC-10 Block in the Campos basin off Espírito Santo is commercially viable.
Shell operates the area jointly with Brazil's state-owned Petroleo Brasileiro SA and ExxonMobil Corp.
Six discoveries on the block have defined four areas for evaluation. The block is 120 km from Vitoria, capital of Espirito Santo, in 1,500-2,000 m of water.
Shell made the declaration after an exploration program involving the drilling of 15 wells. Its initial development concept involves subsea production systems linked to a floating production, storage, and offloading vessel.
Shell expects to use a generic FPSO with a production capacity of 80,000 b/d. Block BC-10's estimated reserves are 400 million boe.