Shell Brasil has finalized its investment decision for the Gato do Mato deepwater project in the Santos Basin offshore Brazil. The company has awarded Japan’s MODEC a multi-year operations and maintenance contract for the floating production, storage, and offloading (FPSO) vessel assigned to the development.
MODEC announced the award on March 25.
Following a delay in November 2022, Shell adhered to its revised timeline and confirmed the final investment decision (FID) on March 21, 2025. Cristiano da Costa, President of Shell Brasil, previously stated the company would decide in the first quarter of 2025.
Shell to kick off Suriname exploration campaign with Araku Deep-1 well – Rystad Energy | OilNOW
MODEC will be responsible for the hull design and all related topside facilities for the FPSO, which will operate at a water depth of approximately 2,000 meters, about 200 kilometers south of Rio de Janeiro. The FPSO Gato do Mato will have a processing capacity of 120,000 barrels of oil per day and associated gas and water. It will be moored using a SOFEC spread mooring system, with stabilized crude stored in its tanks and offloaded to shuttle tankers.
The newly built vessel will be MODEC’s 19th FPSO for Brazil and the second unit delivered directly to Shell for operations in the country. MODEC has signed a purchase and sales agreement and a 20-year operations and maintenance contract with Shell for the unit.
The Gato do Mato consortium includes Shell (operator with a 50% stake), Ecopetrol (30%), and TotalEnergies (20%), with Pré-Sal Petróleo SA (PPSA) managing the production sharing contract. The project is scheduled to begin production in 2029.
ANP approves pre-salt exploratory blocks in Santos Basin for upcoming bid rounds | OilNOW
Gato do Mato is a pre-salt gas-condensate discovery spanning two contiguous blocks: BM-S-54, a concession contract signed in 2005, and Sul de Gato do Mato, a production sharing contract obtained in 2017. The discovery lies in water depths ranging from 1,750 to 2,050 meters.
