Name of the Project
Libra block development – Mero project.

Location
The project is located 180 km off the coast of Rio de Janeiro, in the presalt area of the Santos basin, in Brazil.

All four producing units will be deployed in the north-western part of the Libra block (Mero field), as the central and south-east panels are under exploration until 2020.

Project Owner/s
The Libra Consortium is led by Petrobras (40%) in partnership with Total (20%), Shell (20%), China National Offshore Oil Corporation (10%) and China National Petroleum Corporation (10%).

Pré-Sal Petróleo (PPSA) manages the Libra Production Sharing Contract.

Project Description
The Mero field is estimated to hold three-billion to four-billion barrels of oil.

The project envisions four new production systems in this field. Mero 1 consists of a floating production storage and offloading (FPSO) unit with a production capacity of 150 000 bbl/d of oil and 17 wells, which will be deployed in the north-western part of the block.

The Mero 2 FPSO unit will have a liquid treatment capacity of 180 000 bbl/d.

Following the launch of Mero 2, the project is expected to add another two FPSOs of the same capacity, subject to approval by the partners.

Potential Job Creation
Not stated.

Capital Expenditure
Not stated.

Planned Start/End Date
The Mero 1 FPSO is expected to come on stream in 2021 and Mero 2 FPSO is expected to start up by 2022.

Latest Developments
The Mero 1 project is under development and is progressing as planned.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Too early to state.

Contact Details for Project Information
Petrobras media relations, tel + 55 21 3224 1306.
Total media relations, tel +33 1 47 44 46 99 or email presse@total.com.
Shell media relations, tel +44 207 934 5550.
China National Offshore Oil Corporation, tel +55 21 2104 2900.
China National Petroleum Corporation, tel +86 10 5998 4538 or email admin_eng@cnpc.com.cn.