Shell Seeks Partner for Brazil's Gato do Mato Oil Project Amid Rising Costs
Shell is exploring the sale of a 20% stake in the Gato do Mato oilfield cluster in Brazil to fund its development. The project, expected to start production in 2029, is crucial for Shell's strategy to maintain its position among Brazil's largest oil producers. The development is projected to cost nearly $3 billion, and Shell is seeking a partner to share the financial burden while retaining operational control. The Gato do Mato fields are part of Brazil's pre-salt region, known for its challenging deepwater conditions. 
