Anglo-Dutch major Shell won more deep-water exploration blocks in the Campos and Potiguar basins, it said March 29, bringing its total operated presence offshore Brazil to 18 blocks. One block in the Potiguar Basin it won on its own; the other two there are in partnership with state Petrobras, which has 60% in each case. The fourth licence is in the Campos Basin, which it will operate with 40%; its partners there are US Chevron (40%) and Portuguese energy firm Petrogal (20%). Shell said it will pay about $70mn in signature bonuses.

Shell's upstream boss Andy Brown said the company was committed to growing its production in Brazil, whose deep-water resources strengthened its global portfolio. “This bid round offers significant potential for additional deep-water discoveries. These lease commitments fall within our agreed capital ceiling and are consistent with our value-based approach,” he said.