Apple App Store Injunction Largely Upheld as Appeals Court Rules on Epic Games Case 
Nvidia Weighs Expanding H200 AI Chip Production as China Demand Surges 
Rio Tinto Signs Interim Agreement With Yinhawangka Aboriginal Group Over Pilbara Mining Operations 
JD.com Pledges 22 Billion Yuan Housing Support for Couriers as China’s Instant Retail Competition Heats Up 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Moore Threads Stock Slides After Risk Warning Despite 600% Surge Since IPO 
SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures 
Coca-Cola’s Proposed Sale of Costa Coffee Faces Uncertainty Amid Price Dispute 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
Nomura Expands Alternative Assets Strategy With Focus on Private Debt Acquisitions 
Coca-Cola’s Costa Coffee Sale Faces Uncertainty as Talks With TDR Capital Hit Snag 
SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 
California Jury Awards $40 Million in Johnson & Johnson Talc Cancer Lawsuit 
United Airlines Tokyo-Bound Flight Returns to Dulles After Engine Failure 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
Shell Brasil Petróleo Ltda., a unit of Shell plc, revealed the production of the FPSO Sepetiba in the Mero field has commenced. This is located in offshore Santos Basin in Brazil, also known as Mero-2.
The FPSO (Floating Production Storage and Offloading) Sepetiba produces crude oil and gas at sea, and it reportedly has an operational capacity of 180,000 barrels of oil per day and 12 million cubic meters of natural gas. In the first wave, it is also linked to six production and six injector wells in the field.
First Production at FPSO Sepetiba
The floating production storage and offloading is operated by Petrobras' Sepetiba, a Brazilian state-run oil company, and it announced the start of its first production through a recent securities filing. The operation of the FPSO is expected to boost production efficiency while doing its part to contribute to lowering emissions as well.
As per Reuters, Sepetiba is the third production facility that has been built by the company at the Mero oilfield site. There are also plans to install more units to increase production further. The total output in this oilfield is about 230,000 barrels per day (bpd).
Stake Ownership in Mero Oilfield
Petrobras runs and owns a 38.6% stake in the Mero oilfield. It was reported that the other stakeholders include Shell, Brazil's Pré-Sal Petróleo S.A. (PPSA), TotalEnergies, China National Petroleum Corporation (CNPC), and China National Offshore Oil Corporation (CNOOC).
"The FPSO Sepetiba development leverages our world-class partnership with Petrobras and reinforces our presence in one of the most productive fields in Brazil," Shell's Integrated Gas and Upstream Director, Zoë Yujnovich, said in a press release. "This project aligns with Shell's Powering Progress strategy and our commitment to leverage increasingly efficient and competitive developments in our heartlands to provide safe, secure energy supplies today and for decades to come."
Photo by: John Cameron/Unsplash
