Shell stars oil production in Brazil

Oil giant Shell has started production from its oil fields located in the Campos Basin, off Brazil.

Daily production from the project will start at about 20,000 barrels of oil from one of eight production wells already completed.

This will increase gradually to reach an anticipated peak rate of 80,000 barrels of light crude oil and 35 million cubic feet of gas.

The estimated recoverable reserves of the fields are about 188 million barrels of oil and 62 cubic feet of gas.

President of Shell Brasil, Aldo Castelli, reports that Shell is the first private company to produce oil in the Campos Basin.

Shell is the operator of the project with an 80% stake. Petrobras holds the remaining 20%.