Shell to Start Up Production at BC-10 Project in August

Royal Dutch Shell's Brazilian unit is slated to start up production at the Parque das Conchas project in August, reports Dow Jones Newswires, citing Shell Brasil's President, Vasco Dias.

Dias told local media that the Parque das Conchas project in the BC-10 block, which is estimated to contain potential oil reserves of 400 million barrels, "will start with low production, but [will] reach a higher volume that has not yet been determined."

Located in the Campos Basin, the Parque das Conchas project is operated by Shell, which holds a 50% stake in the offshore block BC-10 and is in a consortium with state-run Petrobras (35%) and India's ONGC (15%) during the field's phased development.

As part of the initial phase, the "Espirito Santo" floating production, storage and offloading vessel (FPSO) will be installed at the Parque das Conchas project and will produce with a capacity of 100,000 barrels of crude oil per day from the Ostra, Abalone and Argonauta fields in the BC-10 block.

Additionally, Shell is set to commence production during the development's second phase from the Nautilus field within the BC-10 block, reports Dow Jones.