One Energy News

Tag: Shell

  • Petrobras reinforces Campos Basin strategy with Argonauta transaction

    Petrobras reinforces Campos Basin strategy with Argonauta transaction

    Petrobras announced an agreement to acquire 100% of a ring-fence portion of the Argonauta Field, in the Campos Basin, currently held by Shell, ONGC and Brava.

    The transaction involves a portion of Argonauta linked to 0.86% of the shared Jubarte pre-salt reservoir. The total consideration will be R$700 million plus US$150 million, subject to contractual adjustments and closing conditions.

    Once completed, Petrobras will hold 98.11% of the Jubarte Shared Reservoir, while the Brazilian government, represented by PPSA, will retain 1.89% related to the extension of the reservoir into non-contracted areas.

    More than a portfolio adjustment, the deal points to a broader strategy: Petrobras is consolidating control over profitable producing assets in the Campos Basin, simplifying governance and reinforcing its position in Brazil’s oldest offshore producing province.

    The move follows other recent transactions, including the reacquisition of Petronas’ stake in Tartaruga Verde and Espadarte Module III, and is aligned with the company’s 2026–2030 Business Plan, which prioritizes value maximization in resilient upstream assets.

    In a market where new frontier development faces longer licensing cycles and higher execution risk, mature basins with existing infrastructure are gaining renewed strategic relevance.

    Campos Basin is no longer just a legacy province. It is becoming a core pillar in Petrobras’ portfolio optimization strategy.

    Stay informed on key offshore developments — visit wsb-one.com, our data platform trusted by leading offshore companies.

  • OPEN TENDERS — Market Update

    OPEN TENDERS — Market Update

    What has changed?

    • Shell — 3x PSVs and 1x OSRV opportunity, new deadline March 2nd, 2026

    What else is happening?

    • Tidewater Inc. announced the acquisition of 100% of Wilson Sons Ultratug Offshore Participações S.A. and Atlantic Offshore Services S.A. in a transaction valued at approximately USD 500 million, reflecting continued consolidation dynamics in Brazil’s PSV segment.

    PS: This will not be the last M&A movement in the marine & offshore market in 2026.

  • Shell and Consortium sign US$300 million drillship contract for Orca Project

    Shell and Consortium sign US$300 million drillship contract for Orca Project


    Shell Brasil, representing the ORCA INVESTMENT CONSORTIUM with Ecopetrol (30%), TotalEnergies (20%) and PPSA (Pré-Sal Petróleo S/A), signed a long-term contract with Valaris Limited for deployment of drillship VALARIS DS-8 in offshore Brazil, valued at approximately US$300 million. Operations are expected to start in early 2027, with an initial term of about 800 days and extension options that could add up to one more year.

    The drillship will support drilling and completion activities for Orca (formerly Gato do Mato), a deepwater development in Brazilian waters. The contract also covers subsea intervention work in Parque das Conchas (BC-10) and decommissioning activities in Bijupirá and Salema, assets operated by Shell. Optional scope includes exploratory drilling.

    VALARIS DS-8 is one of the most advanced deepwater units in operation, with capacity for ultradeepwater activities up to 10,000 feet.

    Stay informed on key offshore developments — visit wsb-one.com, our data platform trusted by leading offshore companies.

  • Shell expands Santos Basin portfolio

    Shell expands Santos Basin portfolio

    Shell has finalized the concession agreements it secured during ANP’s 5th Permanent Offer Cycle in June, reinforcing its strategic footprint in the Santos Basin and broadening its deepwater operations. The S-M-1819, S-M-1821, S-M-1912, and S-M-1914 blocks give the company full (100%) ownership, along with a seven-year exploration period followed by 27 years of production rights.

    The signing bonuses amount to roughly R$ 21.3 million. According to the company, this move underscores Shell’s dedication to Brazil’s energy security and brings its portfolio in the country to a total of 72 contracts.

  • Open Tenders — Updates and New Opportunities

    Open Tenders — Updates and New Opportunities

    New offshore tenders and revisions were recorded this week across key operators.

    • Petrobras — Opportunity 7004439824 revised: the original bid for six PSVs was reduced to one unit.
    • Shell — Opportunity 2742521175 released on September 22, 2025, for the acquisition of one CSV.
    • Transpetro – Petrobras Transporte S. A. — Opportunity 7004521370 released on October 20, 2025, for the acquisition of 18 barges and 18 pushers.

    Stay informed on key offshore developments — visit wsb-one.com, our data platform trusted by leading offshore companies.

  • Gato do Mato: Shell confirms FID

    Gato do Mato: Shell confirms FID

    Shell has made the Final Investment Decision (FID) for the Gato do Mato project in the Santos Basin, an asset secured by the company in 2017. The development plan includes an FPSO with a production capacity of up to 120,000 barrels per day, with operations expected to begin in 2029.

    The Gato do Mato consortium consists of Shell (operator, 50%), Ecopetrol (30%), TotalEnergies (20%), and PPSA, which acts as the contract manager. The discovery is a gas-condensate field located in the pre-salt, spanning two adjacent blocks at depths of 1,750 to 2,050 meters.

    This investment reinforces Shell’s position as the largest foreign oil producer in Brazil and aligns with its strategy of developing efficient deepwater projects. “Gato do Mato is a prime example of our commitment to maintaining stable liquids production in our Upstream business while continuing to meet the world’s energy needs,” said Zoe Yujnovich, Shell’s Director of Integrated Gas and Upstream.

  • Shell’s Decision on Gato do Mato Expected by April

    Shell’s Decision on Gato do Mato Expected by April

    By Rafael Bortoloti

    Cristiano Pinto da Costa, CEO at Shell, revealed that the company will decide by April whether to invest in the Gato do Mato project. Speaking with journalists this week, Costa indicated that the decision is likely to be positive.

    If approved, the FPSO, to be constructed by MODEC will operate at water depths of approximately 2,000 meters, 250 km offshore. The unit will have the capacity to produce 90,000 boe/d and 8.5 million m³ of natural gas per day, with storage capacity for 1.6 million barrels of oil.

    The production plan includes 10 wells: four producers, four gas injectors, and two seawater injectors. Shell holds a 70% stake as the operator, partnering with Ecopetrol (30%).

    “Shell secured the field in the 2017 ANP auction, with development initially planned for 2023. However, the company postponed the final decision in late 2022,” recalls Daniel Buckley, Chartering Manager at WSB Advisors.

  • WSB Advisors workshop

    WSB Advisors workshop

    By Rafael Bortoloti

    WSB Advisors hosted the fourth and final quarterly workshop of the year last Thursday, November 7. After two previous events for shipowners and a seminar, we’re closing the season by welcoming leaders from chartering companies to our office.

    Our team—Alexandre Mattar Vilela, Raphael Montes, Joana Rodrigues, Pedro Pellegrini and Daniel Buckley—presented an overview of vessels in Brazil, including an analysis of current and projected daily charter rates for OSVs in the country and more.

    In addition, guests discussed key industry topics such as vessel lifespans, flags, tonnage, and reviewed real market case studies.

    Key points:

    • History, present, and future of rates

    • Market implications

    • Brazilian legislation

    •Contracts, bidding processes, new builds, circularization, and vessel blocks

    • Green energy and the energy transition: more supply and more demand?

    • Decommissioning and dismantling

    • Ships types, aging, newbuilding demands

  • MODEC: Thirteen FPSOs chartered and two under construction

    MODEC: Thirteen FPSOs chartered and two under construction

    MODEC has demonstrated resilience and continued leadership in Brazil’s FPSO market despite the conclusion of the Shell Fluminense FPSO contract and Enauta‘s decision not to purchase the Cidade de Santos. The Japanese company remains a dominant force, with a fleet of 13 chartered vessels, as highlighted by WSB.One, most of which are contracted with Petrobras.

    MODEC’s FPSOs consistently deliver impressive production figures. In May, FPSO Guanabara, operating in the Mero field in the Santos Basin, achieved outstanding performance with a production of 179,546 barrels of oil and 11.68 million cubic meters of gas, per day. Other noteworthy FPSOs include Cidade de Angra dos Reis and Cidade de Itaguaí, both located in the Tupi field, the largest oil-producing field in Brazil.

    MODEC is further progressing with the construction of the Raia and Bacalhau FPSOs, for Equinor, Campos and Santos Basins, respectively.

    MODEC FPSOs in Brazil

    – FPSO Anita Garibaldi (Petrobras Marlim field, Campos Basin)
    – FPSO Almirante Barroso (Petrobras Búzios field, Santos Basin)
    – FPSO Guanabara (Petrobras Mero field, Santos Basin)
    – FPSO Carioca (Petrobras Sépia field, Santos Basin)
    – FPSO Cidade de Campos dos Goytacazes (Petrobras, Tartaruga Verde and Tartaruga Mestiça, Campos Basin)
    – FPSO Cidade de Caraguatatuba (TotalEnergies, Lapa field, Santos Basin)
    –  FPSO Cidade de Itaguaí (Petrobras, Tupi field, Santos Basin)
    – FPSO Cidade de Mangaratiba (Petrobras, Tupi field,  Santos Basin)
    – FPSO Cidade de São Paulo (Petrobras, Sapinhoá field, Santos Basin)
    – FPSO Cidade de Angra dos Reis (Petrobras, Tupi field, Santos Basin)
    – FPSO Cidade de Santos (Petrobras, Uruguá-Tambaú field, Santos Basin)
    – FPSO Cidade de Macaé (Petrobras, Marlim Sul, Roncador and Marlim Leste fields, Campos Basin)
    – FPSO Cidade de Niterói (Petrobras Marlim Leste Field, Campos Basin)

  • Petrobras OSRV tender

    Petrobras OSRV tender

    Petrobras’ tender for the contracting of up to four OSRVs closed yesterday with the offers delivered. Owners are granted 120 days to mobilize the vessel with commencement scheduled for October 2023. Contract period is of 1460 days firm. Bram Offshore stroke the first four positions (C-Ambassador, C-Admiral, C-Sailor, C-Aclaim) at USD 18.222,00 followed by Marlin Yare and Singrar from Marlin Navegação and Navemestra respectively at USD 18.300,00 and USD 19.000,00. Petrobras’ final tender results with awards shall come out in the following weeks with rounds of technical approvals followed by negotiations.

  • Decommissioning activity (P&A)

    Decommissioning activity (P&A)

    Helix Energy Solutions recently announced a new deepwater well decommissioning (P&A) contract with Shell Brasil. The project is expected to start in 2024 with a 1-year firm contract period for the Bijupirá&Salema fields, located in Campos Basin. Helix will employ the riser-based well intervention vessel Q7000 for this project. The DP3 equipped vessel can perform production enhancement operations such as well clean-up and field development support as well as decommissioning activities in water depths up to 3,000 meters. Shell Brasil acquired the fields and FPSO Fluminense from Enterprise Oil in the early 2000’s becoming a pioneer on the offshore production in Brazil.

  • Maersk Drilling and Shell Brasil

    Maersk Drilling and Shell Brasil

    Maersk Drilling has been awarded by Shell Brasil an estimated 90 days contract for the semi-submersible rig Maersk Developer. The rig will drill one exploration well and perform subsea well intervention at the BC- 10 field. Commencement of operations is expected for March 2023 in direct continuation of the rig’s current contract with Karoon Energy. Shell has also moved forward with negotiations on its tender for the charter of up to two platform supply vessels which has now reached the third round of negotiations.