Shell Expands Stake in Brazil's Atapu and Mero Offshore Units
- Shell Brasil acquired 26.76% of Atapu Open Acreage and 20% of Mero Open Acreage.
- The increased working interest will take effect from 2027.
- Bid payments are scheduled for December 2025, with contract execution in March 2026.
- Shell's investment in Atapu and Mero totals US$50.5 million and US$293.4 million, respectively.
Acquisition Details
Shell Brasil Petróleo Ltda. has increased its equity in Brazil's pre-salt oil projects, specifically in the Atapu and Mero units. The company acquired 26.76% of Atapu Open Acreage and 20% of Mero Open Acreage, raising its stake in Atapu from 16.663% to 16.917% and in Mero from 19.3% to 20%.
Investment and Timeline
The total investment for these acquisitions amounts to US$50.5 million for Atapu and US$293.4 million for Mero. The bid payments are scheduled for December 2025, with the execution of relevant contracts planned for March 2026. The increased working interest is expected to take effect from 2027.
Project Background
Both Atapu and Mero projects are located in the offshore Santos Basin. Mero's production capacity is supported by four FPSOs and an Early Production System, with a combined gross installed capacity of 770,000 barrels of oil per day. Atapu began production in 2020 with the P-70 FPSO, which has a capacity of 150,000 barrels per day, and a second FPSO, P-84, is under construction to support future growth.
Source: Shell