We operate several producing fields in the Campos Basin, offshore Brazil. They include the Bijupirá and Salema fields (Shell interest 80%) and the BC-10 field (Shell interest 50%). We started production from the BC-10 Phase 3 project in early 2016. In 2015, we returned the block in the Sâo Francisco onshore basin area (Shell interest 60%) to the regulator.
We operate 10 offshore exploration blocks in the frontier Barreirinhas Basin (Shell interest ranging from 50% to 100%), along Brazil’s northern equatorial margin and one offshore exploration block in the Santos Basin, BM-S-54 (Shell interest 80%) and we have a non-operated interest in an offshore exploration block in the Santos Basin, BM-S-50 (Shell interest 20%).
We have a 20% interest in a 35-year PSC to develop the Libra pre-salt oil field in the Santos Basin. With the BG combination, we now have a 30% interest in the Sapinhoa and Lapa fields, as well as 25% interests in the Lula, Iracema, Berbigão, Sururu and Atapú West fields. The Berbigão, Sururu and Atapú West fields accumulations are subject to unitisation agreements.
In 2015, we signed a purchase and sale agreement to divest our operating interest in our deep-water production asset Bijupirá Salema, pending regulatory approvals. Subsequently, we confirmed that the agreement for 80% of our interest in Bijupirá Salema was cancelled in February 2016 and as such, this asset will remain in our Brazil portfolio. We also ceased exploration on one offshore block in the Espirito Santos basins, BM-ES-27 (Shell interest 17.5%).
Rest of South America
We also have interests in Argentina, Aruba, Colombia, French Guiana and Uruguay.