BELIZE CITY, BELIZE (Aaron Simonsky, Energy Analytics Institute, 21.Mar.2025) — Shell plc subsidiary Shell Brasil Petróleo Ltda. has taken the final investment decision (FID) for Gato do Mato, a deep-water project in the Santos Basin pre-salt offshore Brazil.
Shell did not provide financial details around the FID but said on 21 Mar. 2025 in an official statement that its investment in Gato do Mato is expected to generate an internal rate of return (IRR) in excess of the hurdle rate for its upstream business.
The Gato do Mato development plan includes the installation of a floating production storage and offloading (FPSO) vessel and is designed to produce up to 120,000 barrels per day (b/d) of oil. Gato do Mato is expected to commence operations in 2029.
