Block 5

Block 5 is located in the Indian Ocean at water depths ranging from 600 to 3,000 metres. It is operated by Petrobras with Shell holding a 50 percent interest. Block 5 was the first off-shore block awarded to an international oil and gas company. In 2001, the block was awarded to Petrobras at the end of the first licensing round. In late 2011, the energy firm farmed out a 50 percent stake in the block to Shell. In August 2011, the partners started the Zeta-1 well. However, the well drilled by the Ocean Rig Poseidon drillship was plugged and abandoned in 2012 which forced Shell to write off about $200 million. In 2012, a second well was drilled but no results have been announced in the block yet.

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