Royal Dutch Shell’s Brazilian subsidiary secured four deep-water exploration blocks off the country’s coast, the company announced. Shell Brasil Petroleo said Thursday it will operate in two of the four locations. The company made one bid on its own and jointly submitted the other three applications with Chevron Brazil, Petrobras, and Petrogal Brasil to the Brazilian National Petroleum Agency. One of the blocks is in the Campos basin, while the other three locations are in the Potiguar basin, Shell said. The company will pay about $70 million in signing bonuses for the projects. Brazil has more proven oil reserves than any South American nation except for Venezuela. “We continue to demonstrate our commitment to growing our production in Brazil and our strong belief in […]