European Investor
04 Dec 2025, 19:31
Shell Expands Stake in Brazil’s Atapu and Mero Pre-Salt Oil Projects
Shell has increased its participating interests in two major Brazilian pre-salt fields, raising its stake to 16.917% in Atapu and 20% in Mero after securing additional equity in an auction led by Pré-Sal Petróleo. The move strengthens Shell’s position in one of its most competitive global portfolios and supports its strategy to maintain material liquids production of 1.4 million barrels per day through 2030.
The winning bids totaled approximately $344 million across both assets, with payments scheduled for December 2025 and contract execution expected in March 2026. The revised interests are set to take effect in 2027. Mero’s four FPSOs now offer a combined gross capacity of 770,000 barrels per day, while Atapu is preparing for further expansion with a second FPSO under construction.
Shell remains Brazil’s second-largest oil and gas producer, behind Petrobras, and said the acquisition demonstrates its disciplined approach to growing high-margin upstream assets with a low carbon footprint.
Shell has increased its participating interests in two major Brazilian pre-salt fields, raising its stake to 16.917% in Atapu and 20% in Mero after securing additional equity in an auction led by Pré-Sal Petróleo. The move strengthens Shell’s position in one of its most competitive global portfolios and supports its strategy to maintain material liquids production of 1.4 million barrels per day through 2030.
The winning bids totaled approximately $344 million across both assets, with payments scheduled for December 2025 and contract execution expected in March 2026. The revised interests are set to take effect in 2027. Mero’s four FPSOs now offer a combined gross capacity of 770,000 barrels per day, while Atapu is preparing for further expansion with a second FPSO under construction.
Shell remains Brazil’s second-largest oil and gas producer, behind Petrobras, and said the acquisition demonstrates its disciplined approach to growing high-margin upstream assets with a low carbon footprint.