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Central Government/Public Sector | Not Classified - Brazil | PID: 181781
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Royal Dutch Shell plans to invest $1-2 billion annually in oil exploration and production in Brazil through 2025
The investment will be made regardless of the outcome of presidential elections on October 28, Wael Sawan, executive vice president for Shell's deepwater division, said in an interview with Valor.
Shell is the second largest oil producer in Brazil, where oil majors have spent top dollar in recent months to lock in stakes in its prolific offshore pre-salt play, where billions of barrels of oil lie beneath a thick layer of salt under the ocean
Shell did not immediately respond to a request for comment
| Updated on: 19 - Oct - 2018
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