Shell Conchas Project Is `Above Expectations,' Odum Tells Valor Economico

Royal Dutch Shell Plc’s Parque das Conchas oil project in Brazil is performing “above expectations,” Valor Economico said, citing Marvin Odum, the company’s upstream director for the Americas.

Shell has been drilling at Parque das Conchas in the Campos Basin for six months, the Sao Paulo-based newspaper said. Oil exploration in Brazil, where Shell currently produces about 117,000 barrels a day, is one of the company’s priorities, Valor said, citing Odum.

Shell plans to drill 10 wells in Brazil by the end of 2011, including two in the so-called pre-salt region of the Campos and Santos Basins, Valor said.

To contact the reporter on this story: Laura Price at lprice3@bloomberg.net

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