UK supermajor Shell has postponed by up to two years the final investment decision on the development of its Gato do Mato pre-salt field offshore Brazil.

Norway’s BW Offshore a few weeks ago received a three-month extension, until February 2023, on a limited notice to proceed from Shell related to the contracting of the Gato do Mato floating production, storage and offloading vessel.

On a brief update, BW Offshore said it has been advised by Shell that the FID on Gato do Mato will not be made within the next 12 to 24 months.