Shell's subsidiary, Shell Brasil, acquired a 25% stake for $1.1 billion of the Atapu field, a deep-water oil and natural gas field in the Santos Basin, the company announced on Wednesday.
Shell and Brazil's oil giant Petrobras signed the production sharing contract to formally acquire shares in the field.
Petrobras sold a 22.5% share of the Atapu field to French energy giant TotalEnergies for $950 million.
Petrobras holds the majority share at 52.5%, while Shell and TotalEnergies have a 25% and 22.5% share interest, respectively.
Production from the Atapu started in June 2020.
The field has a processing capacity of up to 150,000 barrels of oil per day and can treat up to 6 million cubic meters of natural gas, including a storage capacity of 1.6 million barrels.
By Zeynep Beyza Kilic
Anadolu Agency
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