ROYAL DUTCH SHELL PLC: Shell increased equity Schiehallion and Divests Seal

ROYAL DUTCH SHELL PLC: Shell increased equity Schiehallion and Divests Seal
SHELL INCREASES PARTICIPATION IN THE SCHIEHALLION FIELD AND DIVESTS ITS
CANADIAN SEAL ASSETS 
The Hague, 14 November 2012 - Shell announced today the signing of separate 
agreements for the acquisition of Murphy Schiehallion Limited 5.9% stake in the
Schiehallion field west of Shetlands and for the sale of Shell's interest in
the Seal area within the Peace River oil sands of Alberta, Canada to Murphy Oil
Company Ltd. 
The additional equity in the Schiehallion field brings Shell's stake to 55% and
offers Shell access to substantial additional reserves and redevelopment
potential in the UK, a current and future heartland for Shell Upstream in
Europe.  The deepening in Schiehallion is part of Shell's continued portfolio
optimization and our strategy of sustaining the existing upstream engine.  
Under the agreements Murphy, an active developer in the Seal Area in Canada and
Shell's partner in a number of assets, will take over Shell's interest and
operatorship of all the Seal facilities and leases.  This divestment does not
impact Shell's focus on growth activities within other parts of its Peace River
leases.  Shell has significant land holdings in the Peace River oil sands and
has a regulatory application under review to increase its thermal production to
80,000 barrels per day with its Carmon Creek Project. 
Notes for editors: 
* The Schiehallion field is located in blocks 204 and 205, approximately 175 


    kilometres west of the Shetland Islands, off the Scottish coast.
      * Other joint venture partners are BP (Operator) with 33.5%; Statoil - 5.9%
    and OMV 5.9%.
      * In May 2012 Shell signed an agreement with Hess to acquire their 15.7% in
    the Schiehallion field.
    Enquiries:

Shell Media Relations

-              International, UK, European Press: +44 207 934 5550

-              Canada: media-desk@shell.com or +1 877 850 5023.

Shell Investor Relations

-              Europe - Tjerk Huysinga: + 31 70 377 3996

-              North America - Ken Lawrence  +1 713 241 2069

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END

-0- Nov/14/2012 08:32 GMT


 
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