According to Shell Brazil upstream coordinator directorCarlos Montagna, output from Libra is expected to generate about 300 billionreais in royalties and over 600 billion reais in profit oil for the country.
Shell holds a minority 20% working interest in Libra. Thefield is operated by Petrobras with a 40% stake.
Other partners include Total with 20% and Chinesestate-owned companies China National Offshore Oil Corporation (CNOOC) and ChinaNational Petroleum Corporation (CNPC) with 10% each.
Montagna made the comments this Tuesday at the UK Energy inBrazil conference in Rio de Janeiro.
The consortium plans to drill the first exploration well atLibra later this year.
