By Brazil Stock Guide – Shell Brasil completed the signing of four concession contracts in the Santos Basin, formalizing the assets acquired in the 5th cycle of Brazil’s Permanent Concession Offer held in June. The company secured blocks S-M-1819, S-M-1821, S-M-1912 and S-M-1914, all with 100% operating interest — a move that reinforces its long-term deepwater strategy and expands its portfolio to 72 oil and gas contracts in the country.
The agreements establish a seven-year exploration phase followed by 27 years of production, with an option for extension under ANP rules. The combined signing bonus amounts to R$21.3 million, underscoring Shell’s continued appetite for pre-salt and post-salt opportunities in one of Brazil’s most competitive offshore regions.
The company said the new acreage strengthens its presence in the Santos Basin, where it already operates and partners in key deepwater developments. The blocks sit within a strategic frontier that has attracted rising interest from global players seeking scalable prospects in mature basins with robust infrastructure.
Shell highlighted the decision as a commitment to Brazil’s long-term energy security agenda. “These new concessions expand our portfolio and reinforce the relevance of Brazil to our global operations,” said Lúcio Prevatti, Shell Brasil’s General Manager for Exploration, Development and Subsurface.