(Energy Analytics Institute, Jared Yamin, 2.Nov.2018) — Royal Dutch Shell provided an update related to portfolio developments in Brazil and Argentina during the third quarter 2018.
Third Quarter 2018 Portfolio Developments
During the quarter, Shell and its partner Chevron won a 35-year production-sharing contract for the Saturno pre-salt block located off the coast of Brazil in the Santos Basin (Shell interest 50%).
In October, Shell and its partners announced first production at the Lula Extreme South deep-water development in the Brazilian pre-salt Santos Basin (Shell pre-unitisation interest 25%).
In October, Shell completed the sale of its Downstream business in Argentina to Raízen. The business acquired by Raízen will continue the relationship with Shell through various commercial agreements, including long-term brand licence agreements as well as products supply and offtake contracts.