Royal Dutch Shell, through its subsidiary Shell Brasil Petróleo and consortium partners, announced that the floating production, storage, and offloading vessel (FPSO) P-69 is now producing at Lula Extreme South in the Brazilian Santos Basin. Operated by Petrobras, P-69 is a standardized vessel that can process up to 150,000 bbl of oil and 6 million m3 of natural gas daily. It will ramp up production through eight producing and seven injection wells. Following Lula Extreme South, the next FPSO intended to be deployed is P-67 for Lula North. Shell also has development drilling planned for the Gato do Mato South field, which it operates, in 2019. Shell has a 25% stake in the Lula consortium, operated by Petrobras (65%). Galp, through its subsidiary Petrogal Brasil, holds the remaining 10% interest.
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