The consortium comprising Shell, Total, CNPC, CNOOC and Petrobras that submitted the only, and thus, winning bid for Brazil's massive Libra pre-salt field last October will spend $56 billion to explore and develop the area over the next 30 years. Commercial production will start in 2020.Shell's upstream coordinator director Carlos Montagna told attendees of the UK Energy in Brazil conference that the group can expect to generate more than $265 billion in profit oil......
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