Shell set to drill first onshore well in São Francisco basin concession - CEO
Bnamericas Published: Wednesday, November 30, 2011
Royal Dutch Shell (NYSE: RDS-B) will drill the first well on its onshore São Francisco basin concession in the first half of 2012, the company's Brazilian unit CEO André Araújo told BNamericas. "We are bringing forward our plans for our onshore blocks in the São Francisco basin. Shell is starting preliminary operations there this year." According to the executive, 503km of seismic works will be conducted in the region through late December. Araújo declined to comment on potential hydrocarbons reserves in the area. The five blocks Shell holds in the basin are located within the southeastern state of Minas Gerais. Earlier this week, Brazilian consulting company Gas Energy said it has been hired by Brazil's power holding group Cemig (NYSE: CIG) to study the natural gas potential of the São Francisco basin.
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