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Petrobras and Shell have brought online the Lula field’s seventh FPSO as the firms continue to ramp up production from the pre-salt Santos Basin. The unit is flowing oil and gas from the Lula Extremo Sul area, 290 km off Rio de Janeiro state in 2150 m of water. The new venture will operate several deepwater assets—including the Cascade, Chinook, Medusa, and Thunder Hawk fields. Equinor and ExxonMobil continued their aggressive pursuit of acreage offshore Brazil, collecting more blocks in the country's 4th pre-salt bid round. Brazil’s large offshore discoveries and domestic demand for oil and gas are a combination that holds potential for explorers to make money on high-priced blocks.

  Country: South America > Brazil (1.00)
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