First-phase production has begun at the immense Mero deepwater oil and natural gas field off the Brazilian coast.

mero

Mero is located in the Libra block, more than 150 kilometers (93 miles) off the coast of Rio de Janeiro in the prolific pre-salt area of the Santos Basin.

Libra is operated by Brazilian national oil company Petróleo Brasileiro SA, aka Petrobras, with a 38.6% equity stake. Its partners at the project comprise TotalEnergies (19.3%), Shell Brasil Petróleo Ltda., aka Shell Brasil (19.3%), China National Petroleum Corp. (9.65%), China National Offshore Oil Corp. (9.65%) and Pré-Sal Petróleo SA-PPSA (3.5%). Shell Brasil is a unit of supermajor Shell plc.

“Today’s announcement serves as the latest reminder of the strength of our position in deep water in Brazil...