Shell Says to Start New Exploration Phase in BC-10 Brazil Field

Reuters

RIO DE JANEIRO, March 8 (Reuters) - Royal Dutch Shell will start in coming days a new exploration phase in the BC-10 project off the coast of Brazil, where it has already invested more than $1 billion, the company's chief executive in the country said in a presentation.

Shell wants to keep investing in Brazil as the country has viable oil reserves despite recent market uncertainties, Shell Brazil CEO Andre Araujo said.

(Reporting by Rodrigo Viga Gaier; Writing by Silvio Cascione)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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