RIO DE JANEIRO | BY JEB BLOUNT AND MARTA NOGUEIRA: Mon Feb 15, 2016
Royal Dutch Shell (RDSa.L), Europe’s largest oil company, expects to make robust investments in Brazil’s offshore resources, hoping to quadruple oil and gas output there by the end of the decade, its chief executive officer said on Monday.
CEO Ben van Beurden spoke in Brazil shortly after Shell’s $52 billion takeover of BG Group Plc BG.L, approved in late January, took effect.
Thanks to BG’s large portfolio of assets in Brazil and Shell’s decision to buy 20 percent of the giant Libra offshore project in 2013, Brazil will be a key area for the Anglo-Dutch company as it focuses on liquefied natural gas and deepwater oil production, van Beurden said.