10:51 - 10.12.2025

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December 10, Fineko/abc.az. Shell is looking for a partner to finance deepwater project Gato do Mato off the coast of Brazil and plans to sell 20% of its stake, remaining the operator.

ABC.AZ informs that these fields account for about 10% of company's Brazilian portfolio. Production is expected to start in 2029 with target level of 120,000 barrels per day.

Selling a share is a typical industry practice for cost sharing: the project cost is estimated at $3 billion. Although the reserves of Gato do Mato are relatively small (approx. 370 million barrels), they will become an important source of production in the 2030s, when other large Brazilian deposits begin to be depleted. Attracting an investor will allow Shell to reduce financial risks while maintaining project management. At the same time, the company is conducting exploration in another promising but environmentally sensitive region.