South America


We operate several producing fields in the Campos Basin, offshore Brazil. They include the Bijupirá and Salema fields (Shell interests 80%) and the BC-10 field (Shell interest 50%). Production from the BC-10 Phase 3 project started in 2016. In February 2016, an agreement to sell our 80% interest in Bijupirá Salema was cancelled and therefore this asset remains in our portfolio.

As a result of the BG acquisition, we have a 30% interest in the Sapinhoa and Lapa fields, as well as 25% interests in the Lula, Iracema, Berbigão, Sururu and Atapú West fields. We have nine producing FPSOs in Brazil. Of those, the seventh, eighth and ninth FPSOs – Cidade de Maricá, Cidade de Saquarema and Cidade de Caraguatauba respectively – reached first oil in 2016 in various offshore blocks and are expected to ramp up to full production capacity by 2020. Two further FPSOs (Lula North and Lula South) are expected to be brought online in 2017 and four are expected to do so over the period 2018-2020 (Berbigao, Lula Extreme South, Atapu South, Atapu North).

We have further development and exploration leases in the Santos Basin within the Libra (Shell interest 20%) and Gato-do-Mato BM-S-54 (Shell interest 80%) fields and have a further 20% non-operated interest in the Sagitario BM-S-50 offshore exploration block, also in the Santos Basin.

Additionally, as a further result of the BG acquisition, we operate 10 offshore exploration blocks in the Barreirinhas Basin (Shell interests ranging from 50% to 100%).

Rest of South America

We also have interests in Argentina, Colombia and Uruguay.